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Definition of indicators, formula and terms used in assessing the validity of forecasts.
| Indicators | formula | Define terms |
|---|---|---|
| Autocorrelation function (ACF) |
|
Error terms,  Number of lags, 
|
| Akaike Information Criterion (AIC) |
|
Maximum value of the  Likelihood function Number of estimated parameters 
|
| Mean Absolute Error (MAE) |
|
The forecast value  The actual value  Number of fitted observed n |
| Root Mean Square Error (RMSE) |
|
|
| Mean Absolute Percentages Error (MAPE) |
|
