Page 39 - Regression Guideline for AMC

MAPE
(Mean Absolute Percentage Error)
• Depending on the souware used, other sta6s6cs that provide insight into a model’s overall accuracy include the root mean squared error and the mean squared percentage error. Like MAPE, these sta6s6cs provide an idea of the average error of the predicted sales prices for the proper6es examined in the regression model.
• Some souware will also produce informa6on on the 95% confidence intervals for each property characteris6c included in the final model and this may be included in the appraisal report. As with the 95% confidence interval for the overall regression-­‐based predic6on of sales price, a narrow confidence interval around the regression weight indicates an accurate predic6on of how much that characteris6c affects the es6mated sales price.
39