Research Article
Public Procurement Announcements in Spain: Regulations, Data Analysis, and Award Price Estimator Using Machine Learning
Table 6
Error metrics between award price and forecast price.
| Error | Value | Difference with respect to Tender_Price |
| Absolute percentage error (APE) | See Figure 8 | See Figure 8 | Median absolute error (MdAE) | €7,575.45 | +€620.45 | Median absolute percentage error (MdAPE) | 9.26% | −2.58% | Mean absolute error (MAE) | €67,241.34 | +€70,537.3 | Mean absolute percentage error (MAPE) | 28.60% | −11.19% | Root mean square error (RMSE) | 364,901,707,583 | −101,086,707,913,131 | Coefficient of determination | 0.92 | — |
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