Table 1 Error statistics used in... | Emerald Publishing

Table 1

Error statistics used in simulation tests

Statistics	Acronym	Formula
Mean error	ME	$M E = \frac{1}{n} \sum_{i = 1}^{N} x - \bar{x}$
Mean percentage error	MPE	$M P E = \frac{1}{n} \sum_{i = 1}^{N} \frac{x - \bar{x}}{\bar{x}}$
Mean absolute error	MAE	$M A E = \frac{1}{n} \sum_{i = 1}^{N} \| x - \bar{x} \|$
Mean absolute percentage error	MAPE	$M A P E = \frac{1}{n} \sum_{i = 1}^{n} \| \frac{x - \bar{x}}{\bar{x}} \|$
Mean squared error	MSE	$M S E = \frac{1}{n} \sum_{i = 1}^{N} {(x - \bar{x})}^{2}$
Root mean squared error	RMSE	$R M S E = \sqrt{M S E}$

Statistics	Acronym	Formula
Mean error	ME	$M E = \frac{1}{n} \sum_{i = 1}^{N} x - \bar{x}$
Mean percentage error	MPE	$M P E = \frac{1}{n} \sum_{i = 1}^{N} \frac{x - \bar{x}}{\bar{x}}$
Mean absolute error	MAE	$M A E = \frac{1}{n} \sum_{i = 1}^{N} \| x - \bar{x} \|$
Mean absolute percentage error	MAPE	$M A P E = \frac{1}{n} \sum_{i = 1}^{n} \| \frac{x - \bar{x}}{\bar{x}} \|$
Mean squared error	MSE	$M S E = \frac{1}{n} \sum_{i = 1}^{N} {(x - \bar{x})}^{2}$
Root mean squared error	RMSE	$R M S E = \sqrt{M S E}$

Source(s): Qi et al., 2020; Zaman and Bulut, 2020; Eyo and Abbey, 2021