dipta007's Second 🧠

    Mean Absolute Percentage Error (Mape)

    [!def] Mean Absolute Percentage Error
    $$
    MAPE = \frac{1}{N} \sum_i \frac{|y_i - \hat{y_i}|}{y_i} * 100
    $$

    Pros of MAPE

    1. Errors are normalized on a common scale; hence easy to understand
    2. The problem of negative and positive cancelling each other is not there

    Cons of MAPE

    1. Need to avoid values with ground truth 0 because of $y_i$ in denominator
    2. Penalizes negative errors more than positive
    3. Change on actual value, change the error even the error value is same