Table 8 Standard metrics for... | Emerald Publishing

Table 8

Standard metrics for representation of measurement-estimation error (difference between)

Error statistic	Acronym	Units	Formula
Mean bias error	MBE	ach	$\frac{\sum_{t = 1}^{n} (E_{t})}{n}$
Mean absolute error	MAE	ach	$\frac{\sum_{t = 1}^{n} \| E_{t} \|}{n}$
Maximum error	Max E	ach	Max E_t
Minimum error	Min E	ach	Min E_t
Root mean square error	RMSE	ach	$\sqrt{\frac{\sum_{t = 1}^{n} {(E_{t})}^{2}}{n}}$
Normalised mean bias error	NMBE	%	$\frac{M B E}{\bar{M}} \times 100$
Coefficient of variation of root mean square error	CVRMSE	%	$\frac{R M S E}{\bar{M}} \times 100$

Error statistic	Acronym	Units	Formula
Mean bias error	MBE	ach	$\frac{\sum_{t = 1}^{n} (E_{t})}{n}$
Mean absolute error	MAE	ach	$\frac{\sum_{t = 1}^{n} \| E_{t} \|}{n}$
Maximum error	Max E	ach	Max E_t
Minimum error	Min E	ach	Min E_t
Root mean square error	RMSE	ach	$\sqrt{\frac{\sum_{t = 1}^{n} {(E_{t})}^{2}}{n}}$
Normalised mean bias error	NMBE	%	$\frac{M B E}{\bar{M}} \times 100$
Coefficient of variation of root mean square error	CVRMSE	%	$\frac{R M S E}{\bar{M}} \times 100$