most citedA better measure of relative prediction accuracy for model selection and model estimation

441 citations · 441 across the 1 of their papers we have counts for

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stat.ME2021★ 441 cited

A better measure of relative prediction accuracy for model selection and model estimation

Chris Tofallis

Surveys show that the mean absolute percentage error (MAPE) is the most widely used measure of forecast accuracy in businesses and organizations. It is however, biased: When used t…