No. | Factor | Formula | Acceptable Indicators |
---|---|---|---|
1 | Root Mean Square Error (RMSE) |
RMSE = 0 implies perfect fit. | |
2 | Root Mean Square Percentage Error (RMSPE%) |
RMSPE% = 0 implies perfect fit. Note: The percentage error cannot exceed 100% |
|
3 | Mean Absolute Deviation (MAD) |
MAD = 0 implies perfect fit. | |
4 | Mean Bias Error (MBE) |
MBE < 0 = modelled count data is less than observed traffic volume, and MBE > 0 = modelled count data is more than observed traffic volume. |
|
5 | Mean Percentage Error (MPE%) |
-10% < MPW < 10% = acceptability ranges. | |
6 | Mean Absolute Percentage Error (MAPE%) |
MAPE% = 0 implies perfect fit. Note: The percentage error cannot exceed 100% |
|
7 | Coefficient of Determination (R2) |
R2 is bounded, 0 ≤ R2 ≤ 1 R2 = 0 implies worst possible fit, and R2 = 1 implies perfect fit. |
|
8 | The GEH Statistic (GEH) |
GEH < 5 = flows can be considered a good fit, 5 < GEH < 10 = flows may require further investigation, and 10 > GEH = flows cannot be considered to be a good fit. |
|
9 | Thiel’s U Statistic: URFORM (Theil’s U) |
U is bounded, 0 ≤ U ≤ 1 U = 0 implies perfect fit, and U = 1 implies worst possible fit. |