mytest > help > Part 2. MM4XL Tools > 2. Analytical Tools > Business Formulas > 3. Forecast Errors > mmU, U-statistics

Business Formulas

mmU, U-statistics

Category: Forecast

The U-statistic developed by Theil is the ratio of the square root of MSE divided by the sum of the variance of the observed values and the variance of the predicted values. If the technique forecasts perfectly (et = 0 for all t), U = 0. Alternatively, if U = 1, the technique is generating erroneous forecasts.

Business analysis formulas for Excel. Marketing tool for professionals

Syntax

mmU(Actual_Data, Forecast_Data)

Actual_Data Sales Values
Forecast_Data Forecast Values

Example

See example file Business Formulas.xls, sheet mmU.

Business analysis formulas for Excel. Marketing tool for professionals

Related functions
  • mmDW
  • mmMAD
  • mmMAPE
  • mmME
  • mmMSE
  • mmRMSE
  • mmSEASON
  • 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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