Table 2. The relation of error/accuracy measures and data properties.
Error/accuracy Measure | Unit/scale independent | Variance-independent | Predictive accuracy | Relationship with VEcv* |
---|---|---|---|---|
MAE | No | No | Unknown | |
RMSE | No | No | Unknown | |
MSE | No | No | Unknown | |
RMAE | Yes | No | Unknown | |
RRMSE | Yes | No | Unknown | |
SRMSE | Yes | Yes | Unknown | |
MSRE | Yes | Yes | Unknown | |
VEcv | Yes | Yes | Known |
* These equations were derived from Li [18], where n is the number of observations in, s is standard deviation of, and CV is coefficient of variation of, a validation dataset