Question

Consider the following time series data.

Week 1 2 3 4 5 6

Value 18 14 16 10 18 14

Using the naive method

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 answer to one decimal place.

D. What is the forecast for week 7?

If required, round your answer to one decimal place.

Answer #1

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

1 | 18 | ||||

2 | 14 | 18 | 4 | 16 | 0.2857 |

3 | 16 | 14 | 2 | 4 | 0.1250 |

4 | 10 | 16 | 6 | 36 | 0.6000 |

5 | 18 | 10 | 8 | 64 | 0.4444 |

6 | 14 | 18 | 4 | 16 | 0.2857 |

7 | 14 | ||||

Total | 24 | 136 | 1.74 | ||

Average | 4.80 | 27.20 | 34.82% | ||

MAD | MSE | MAPE |

a)

Mean absolute error =4.80

b)

Mean squared error =27.20

c)

Mean absolute percentage error =34.82%

d)

forecast for week 7 =14

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If required, round your intermediate calculations and final...

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the next week, compute the following measures of forecast
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(a)
Mean absolute error
If required, round your answer to one decimal place.
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Mean squared error
If required, round your answer to one decimal place.
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If required, round your intermediate calculations and final...

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2
3
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18
13
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11
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the next week, compute the following measures of forecast
accuracy.
(a)
Mean absolute error
If required, round your answer to one decimal place.
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Mean squared error
If required, round your answer to one decimal place.
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Mean absolute percentage error
If required, round your intermediate calculations and final...

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Mean absolute error
If required, round your answer to one decimal place.
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