Consider the following time series data. Week 1 2 4 6 Value 20 12 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. Round your answer to one decimal place. -11.5 X. b. Mean squared error. Round your answer to one decimal place. 151.8 X C. Mean absolute percentage error. Round your answer to two decimal places. 563.3 х % d. What is the forecast for week 7? Round your answer to the nearest whole number.
Consider the following time series data. Week 1 2 4 6 Value 20 12 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. Round your answer to one decimal place. -11.5 X. b. Mean squared error. Round your answer to one decimal place. 151.8 X C. Mean absolute percentage error. Round your answer to two decimal places. 563.3 х % d. What is the forecast for week 7? Round your answer to the nearest whole number.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.1: Measures Of Center
Problem 3BGP
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