Part 2. MM4XL Tools > 2. Analytical Tools > Business Formulas > 3. Forecast Errors > mmMSE, Mean Standard Error

Business Formulas

mmMSE, Mean Standard Error

Category: Forecast

The Mean Standard Error (MSE) defines error as the sum of squares of the forecast errors, et, divided by the number of forecast periods.

Business analysis formulas for Excel. Marketing tool for professionals

Syntax

mmMSE(Actual_Data, Optional Forecast_Data)

Actual_Data Either Sales Values, then the next variable is required, or Error values
Forecast_Data Optional - Forecast Data, required if the previous variable is equal to Sales Values

Example

See example file Business Formulas.xls, sheet mmMSE.

Business analysis formulas for Excel. Marketing tool for professionals

Related functions
  • mmDW
  • mmMAD
  • mmMAPE
  • mmME
  • mmRMSE
  • mmSEASON
  • mmU
  • mmBASS
  • mmRANGE
  • mmRANK
  • mmVARc
Related MM4XL software tools
  • Forecast Manager
  • Brand Switch Analyst
  • Profile Manager
Source
Jeffrey Jarrett, 1987, Business forecasting methods
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Price: euro

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