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I'm not totally sure what the %'s mean. can you tell me the avg variance. Thanks for the info!
for example: (bogus numbers)
mtc averages a variance of 3 million from the actual OW.
rs averages a variance of 7 million from the actual OW.
to calculate simply take the absolute value of the differences between each estimate and actual OW number, and then average those numbers.
Posted below, but felt it would interesting enough to mention alone: MTC has a 2012 accuracy rate of about 76%. RS at 57%. on May 14, 16:55
I'm not totally sure what the %'s mean. can you tell me the avg variance. Thanks for the info! on May 14, 17:03
Not sure on the dollar figure, but my calculations are based on these examples: on May 14, 17:16
you are calculating the average percentage error. correctly, I might add. Cheers. {nm} on May 14, 17:31
uh what? on May 14, 17:06
Please see Roger's and my replies just a couple of posts down. {nm} on May 14, 17:20
If mid-20s is 25 and mid-single digit is 5, then mid-teens should be 15. {nm} on May 14, 17:10
I define "teens" as 13-19, not 11-20 (which I would think to be "mid-double digits"). :) {nm} on May 14, 17:12
Hit enter too soon: 11-20 where 15 be "mid-double digits" {nm} on May 14, 17:13
Wouldn't mid-double digits be between 10-99? Wink {nm} on May 14, 19:56
LOL! Using RS 2012 accuracy %, Battleship could open as high as 86M or as low as 24M. {nm} on May 14, 17:10
This is from using the formula 1 - ABS(Predicted Weekend - Actual Weekend)/Actual Weekend. on May 14, 17:15
Hmmm... supposed to go under alfpaul's post {nm} on May 14, 17:15
Thx for the context at least but still confused on May 14, 17:20
Agreed - it's not perfect, but it is easy to understand and easy to verify, which are advantages. {nm} on May 14, 17:31
Agreed. My application today was simply to find a min-max for Battleship based on MTC's performance so far this year. on May 14, 17:33
Yes. And I'll admit there are probably better measurements and/or terminology that can be used here. I'm just using that formula in my on May 14, 17:19
Gotcha on May 14, 17:24
So... the clarify... MTCs 27 "should" equate to a $35.53 weekend???? {nm} on May 14, 22:54
*to clarify... I am asking to make sure I understand your position.. :) {nm} on May 14, 22:57
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