Consider the following time series data: Week Value 18 13 16 11 17 14
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 3CYU
Related questions
Question
- Consider the following time series data:
Week Value
-
-
- 18
- 13
- 16
- 11
- 17
- 14
-
Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.
a.
b. Mean Squared Error
c. Mean Absolute Percentage Error
d. What is the forecast for Week 7?
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