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For example, I am predicting a score that can have value from 0 to 100. Lets assume MAPE = 10 for one case. In other case MAE = 10. How can I interpret it in layman words? Does it means:

  1. MAPE/MAE showed that prediction error calculated with MAPE/MA method was from -5 to +5 from actual value.
  2. MAPE/MAE showed that prediction error calculated with MAPE/MA method was from -10 to +10 from actual value.
  3. Some other kind of interpretation?
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  • $\begingroup$ We have tags mape and mae, which I added to your question. I would recommend you take a look at other questions carrying these tags. $\endgroup$ – Stephan Kolassa Apr 30 at 7:50
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MAE=10 implies that, on average, the forecast's distance from the true value is 10 (e.g true value is 200 and forecast is 190 or true value is 200 and forecast is 210 would be a distance of 10). MAPE=10 implies that, on average, the forecast's distance from the true value is 10% of the true value (e.g true value is 100 and forecast is 90 or true value is 100 and forecast is 110 would be a distance of 10%).

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