Question

Consider the following time series data.

Week |
1 | 2 | 3 | 4 | 5 | 6 |

Value |
20 | 12 | 15 | 10 | 19 | 14 |

Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.

- Mean absolute error. Round your answer to one decimal
place.

- Mean squared error. Round your answer to one decimal
place.

- Mean absolute percentage error. Round your answer to two
decimal places.

- What is the forecast for week 7? Round your answer to the
nearest whole number.

Answer #1

Time period | Actual Value(A) | Moving avg. Forecast(F) | Forecast error E=|A-F| | Squared Forecast Error | |

1 | 20 | ||||

2 | 12 | 20 | 8 | 64 | |

3 | 15 | 12 | 3 | 9 | |

4 | 10 | 15 | 5 | 25 | |

5 | 19 | 10 | 9 | 81 | |

6 | 14 | 19 | 5 | 25 | |

7 | 14 | ||||

Total | 30 | 204 | |||

Average | 6.00 | 40.80 | |||

MAD | MSE | ||||

a) mean absolute error= | 6.00 | ||||

b) mean squared error = | 40.80 | ||||

c) mean absolute % error= | 43.95% | ||||

d) forecast for week 7 = | 14 |

Consider the following time series data.
Week
1
2
3
4
5
6
Value
20
12
15
11
19
15
Using the naïve method (most recent value) as the forecast for
the next week, compute the following measures of forecast
accuracy.
Mean absolute error. Round your answer to one decimal
place.
________
Mean squared error. Round your answer to one decimal
place.
_______
Mean absolute percentage error. Round your answer to two decimal
places.
_______
What is the forecast for...

Consider the following time series data.
Week
1
2
3
4
5
6
Value
20
12
15
10
19
14
Using the naïve method (most recent value) as the forecast for
the next week, compute the following measures of forecast
accuracy.
(a)
Mean absolute error
If required, round your answer to one decimal place.
(b)
Mean squared error
If required, round your answer to one decimal place.
(c)
Mean absolute percentage error
If required, round your intermediate calculations and final...

Consider the following time series data.
Week
1
2
3
4
5
6
Value
20
12
16
11
18
14
Using the naïve method (most recent value) as the forecast for
the next week, compute the following measures of forecast
accuracy.
(a)
Mean absolute error
If required, round your answer to one decimal place.
(b)
Mean squared error
If required, round your answer to one decimal place.
(c)
Mean absolute percentage error
If required, round your intermediate calculations and final...

Consider the following time series data.
Week
1
2
3
4
5
6
Value
18
14
15
11
19
14
Using the naïve method (most recent value) as the forecast for
the next week, compute the following measures of forecast
accuracy?
(a)
Mean absolute error
If required, round your answer to one decimal place.
(b)
Mean squared error
If required, round your answer to one decimal place.
(c)
Mean absolute percentage error
If required, round your intermediate calculations and final...

Consider the following time series data. Week 1 2 3 4 5 6 Value
20 14 16 10 17 14 Using the naïve method (most recent value) as the
forecast for the next week, compute the following measures of
forecast accuracy. (a) Mean absolute error If required, round your
answer to one decimal place. (b) Mean squared error If required,
round your answer to one decimal place. (c) Mean absolute
percentage error If required, round your intermediate calculations
and final...

Consider the following time series data.
Week
1
2
3
4
5
6
Value
20
12
16
10
18
13
Using the naïve method (most recent value) as the forecast for
the next week, compute the following measures of forecast
accuracy.
(a)
Mean absolute error
If required, round your answer to one decimal place.
(b)
Mean squared error
If required, round your answer to one decimal place.
(c)
Mean absolute percentage error
If required, round your intermediate calculations and final...

Consider the following time series data.
Week
1
2
3
4
5
6
Value
18
12
15
10
18
14
Using the naïve method (most recent value) as the forecast for
the next week, compute the following measures of forecast
accuracy.
(a)
Mean absolute error
If required, round your answer to one decimal place.
(b)
Mean squared error
If required, round your answer to one decimal place.
(c)
Mean absolute percentage error
If required, round your intermediate calculations and final...

Consider the following time series data.
Week
1
2
3
4
5
6
Value
18
14
16
10
19
13
Using the naïve method (most recent value) as the forecast for
the next week, compute the following measures of forecast
accuracy.
(a)
Mean absolute error
If required, round your answer to one decimal place.
(b)
Mean squared error
If required, round your answer to one decimal place.
(c)
Mean absolute percentage error
If required, round your intermediate calculations and final...

Consider the following time series data. Week 1 2 3 4 5 6
Value 19 13 16 11 18 14
Using the naïve method (most recent value) as the forecast for
the next week, compute the following measures of forecast
accuracy.
(a) Mean absolute error If required, round your answer to one
decimal place.
(b) Mean squared error If required, round your answer to one
decimal place.
(c) Mean absolute percentage error If required, round your
intermediate calculations and final...

Consider the following time series data.
Week
1
2
3
4
5
6
Value
18
14
16
10
19
13
Using the naïve method (most recent value) as the forecast for
the next week, compute the following measures of forecast
accuracy.
(a)
Mean absolute error
If required, round your answer to one decimal place.
(b)
Mean squared error
If required, round your answer to one decimal place.
(c)
Mean absolute percentage error
If required, round your intermediate calculations and final...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 4 minutes ago

asked 10 minutes ago

asked 29 minutes ago

asked 32 minutes ago

asked 46 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 2 hours ago

asked 2 hours ago