Complexity / 2019 / Article / Tab 4

Research Article

Public Procurement Announcements in Spain: Regulations, Data Analysis, and Award Price Estimator Using Machine Learning

Table 4

Error metrics between tender price and award price.


Absolute error (AE)See Figure 4(c)
Absolute percentage error (APE)See Figure 5
Median absolute error (MdAE)€6,955.00
Median absolute percentage error (MdAPE)11.84%
Mean absolute error (MAE)€137,778.64
Mean absolute percentage error (MAPE)39.79%
Root mean square error (RMSE)101,451,609,620,714
Coefficient of determination−3.10