Forecasting Error Calculator

✖Observed Value at Time t is the real value from data at time t based on which predictions will be made.ⓘ Observed Value at Time t [D_t]			+10% -10%
✖Smooth Averaged Forecast for Period t is the recent observation that is given relatively more weight in forecasting than the older observations.ⓘ Smooth Averaged Forecast for Period t [F_t]			+10% -10%

✖Forecasting Error is the difference between the actual or real and the predicted or forecast value of a time series or any other phenomenon of interest.ⓘ Forecasting Error [e_t]

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Formula

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Forecasting Error

Formula

`"e"_{"t"} = "D"_{"t"}-"F"_{"t"}`

Example

`"5"="45"-"40"`

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Forecasting Error Solution

STEP 0: Pre-Calculation Summary

Formula Used

Forecasting Error = Observed Value at Time t-Smooth Averaged Forecast for Period t
e_t = D_t-F_t
This formula uses 3 Variables

Variables Used

Forecasting Error - Forecasting Error is the difference between the actual or real and the predicted or forecast value of a time series or any other phenomenon of interest.
Observed Value at Time t - Observed Value at Time t is the real value from data at time t based on which predictions will be made.
Smooth Averaged Forecast for Period t - Smooth Averaged Forecast for Period t is the recent observation that is given relatively more weight in forecasting than the older observations.

STEP 1: Convert Input(s) to Base Unit

Observed Value at Time t: 45 --> No Conversion Required
Smooth Averaged Forecast for Period t: 40 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

e_t = D_t-F_t --> 45-40

Evaluating ... ...

e_t = 5

STEP 3: Convert Result to Output's Unit

5 --> No Conversion Required

FINAL ANSWER

5 <-- Forecasting Error

(Calculation completed in 00.004 seconds)

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Created by Team Softusvista

Softusvista Office (Pune), India

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Verified by Himanshi Sharma

Bhilai Institute of Technology (BIT), Raipur

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< 12 Industrial Parameters Calculators

Binomial Distribution

Go Binomial Distribution = Number of Trials!*(Probability of Success of Single Trial^Specific Outcomes within Trials)*(Probability of Failure of Single Trial^(Number of Trials-Specific Outcomes within Trials))/(Specific Outcomes within Trials!*(Number of Trials-Specific Outcomes within Trials)!)

Normal Distribution

Go Normal Distribution = e^(-(Specific Outcomes within Trials-Mean of Distribution)^2/(2*Standard Deviation of distribution^2))/(Standard Deviation of distribution*sqrt(2*pi))

Learning Factor

Go Learning Factor = (log10(Time for Task 1)-log10(Time for n Tasks))/log10(Number of Tasks)

Poisson Distribution

Go Poisson Distribution = Mean of Distribution^(Specific Outcomes within Trials)*e^(-Mean of Distribution)/(Specific Outcomes within Trials!)

Annual Devaluation Rate

Go Annual Devaluation Rate = (Rate of Return Foreign Currency-Rate of Return USD)/(1+Rate of Return USD)

Crashing

Go Cost Slope = (Crash Cost-Normal Cost)/(Normal Time-Crash Time)

Forecasting Error

Go Forecasting Error = Observed Value at Time t-Smooth Averaged Forecast for Period t

Macroscopic Traffic Density

Go Traffic Density in vpm = Hourly Flow Rate in vph/(Avg. Travel Speed/0.277778)

General Sewing Data

Go GSD = (Man Power*Work Hours)/Target

Traffic Intensity

Go Traffic Intensity = Mean Arrival Rate/Mean Service Rate

Variance

Go Variance = ((Pessimistic Time-Optimistic Time)/6)^2

Reorder Point

Go Reorder Point = Lead Time Demand+Safety Stock

Forecasting Error Formula

Forecasting Error = Observed Value at Time t-Smooth Averaged Forecast for Period t
e_t = D_t-F_t

What is forecasting error?

Forecasting error is the difference between the actual or real and the predicted or forecast value of a time series or any other phenomenon of interest. Since the forecast error is derived from the same scale of data, comparisons between the forecast errors of different series can only be made when the series is on the same scale.

How to Calculate Forecasting Error?

Forecasting Error calculator uses Forecasting Error = Observed Value at Time t-Smooth Averaged Forecast for Period t to calculate the Forecasting Error, Forecasting error is the difference between the actual or real and the predicted or forecast value of a time series or any other phenomenon of interest. Forecasting Error is denoted by e_t symbol.

How to calculate Forecasting Error using this online calculator? To use this online calculator for Forecasting Error, enter Observed Value at Time t (D_t) & Smooth Averaged Forecast for Period t (F_t) and hit the calculate button. Here is how the Forecasting Error calculation can be explained with given input values -> 5 = 45-40.

FAQ

What is Forecasting Error?

Forecasting error is the difference between the actual or real and the predicted or forecast value of a time series or any other phenomenon of interest and is represented as e_t = D_t-F_t or Forecasting Error = Observed Value at Time t-Smooth Averaged Forecast for Period t. Observed Value at Time t is the real value from data at time t based on which predictions will be made & Smooth Averaged Forecast for Period t is the recent observation that is given relatively more weight in forecasting than the older observations.

How to calculate Forecasting Error?

Forecasting error is the difference between the actual or real and the predicted or forecast value of a time series or any other phenomenon of interest is calculated using Forecasting Error = Observed Value at Time t-Smooth Averaged Forecast for Period t. To calculate Forecasting Error, you need Observed Value at Time t (D_t) & Smooth Averaged Forecast for Period t (F_t). With our tool, you need to enter the respective value for Observed Value at Time t & Smooth Averaged Forecast for Period t and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

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