Forecast performance of the out-of-sample predictions of SARIMA and SARIMAX models (January 2022–September 2022)
| Evaluation metrics | SARIMA | SARIMAX | Improvement |
|---|---|---|---|
| MAE | 9165.62 | 7301.54 | 20.3% |
| RMSE | 11535.76 | 9450.42 | 18.0% |
| Evaluation metrics | SARIMA | SARIMAX | Improvement |
|---|---|---|---|
| MAE | 9165.62 | 20.3% | |
| RMSE | 11535.76 | 18.0% |
Note(s): The values in italic indicate the model with the best evaluation metric
Source(s): Table by authors
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