Explanation of error

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Explanation of error

Postby j235 » Tue Oct 17, 2017 11:05 am

I made some estimation with OLS and have problem with explanation of results from error.Because my time series is convert in log values I don't understand what is meaning of this figures such as: Mean error 0,073, RMSE 0,558,MAE 0,382, MPE 0,400 etc.
If I calculate with absolute value(without log) I understand the meaning of error but is difficult with logaritam.Please help me about meaning of upper figures.

Thank you in advance

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