Question
Consider the following time series data. Week 1 2 3 4 5 6 Value 18 12...
Consider the following time series data.
| Week | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
| Value | 18 | 12 | 17 | 11 | 17 | 14 |
Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.
(a)
mean absolute error
MAE =
(b)
mean squared error
MSE =
(c)
mean absolute percentage error (Round your answer to two decimal places.)
MAPE = %
(d)
What is the forecast for week 7?
Homework Answers
Answer #1
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