Consider the following time series data.Week123456Value17 1317101815Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.(a) mean absolute errorMAE=(b) mean squared errorMSE=(c) mean absolute percentage error (Round your answer to two decimal places.)MAPE=%(d) What is the forecast for week 7?Need Help?Read ItWatch ItType here to searchWL372°FBNM

Step 1:Given:Week123456Value171317101815Step 2:Goal:Determine mean absolute error, mean squared…

Answered: Consider the following time series…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A statistical program is recommended. A company that sells musical instruments has been in business for five years. During that time, sales of pianos increased from 13 units in the first year to 77 units in the most recent year. The firm's owner wants to develop a forecast of piano sales for the coming year. The quarterly sales data follow. Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total YearlySales 1 5 2 1 5 13 2 7 4 4 14 29 3 11 3 5 16 35 4 12 9 7 22 50 5 19 10 13 35 77 (a) Deseasonalize the data. (Round your answers to four decimal places.) Year Quarter Sales Adjusted Deseasonalized Seasonal Sales Index 1 1 5 1.3407 1 2 2 0.5998 1 3 1 0.4842 1 4 5 1.5753 2 1 7 1.3407 2 2 4 0.5998 2 3 4 0.4842 2 4 14 1.5753 3 1 11 1.3407 3 2 3 0.5998 3 3 5 0.4842 3 4 16 1.5753 4 1 12 1.3407 4 2 9 0.5998 4 3 7 0.4842 4 4 22 1.5753 5 1 19 1.3407 5 2 10 0.5998 5 3…
Which of the following is the most appropriate type of chart for determining the number of observations at or below a specific value? Select one: a. A histogram. b. A pie chart. c. A time-series chart. d. A cumulative frequency ogive.
Please answer part a, b, c, and d
Need a, b and c please
Consider the following time series data. Month 1. 3 4 5 7 Value 20 11 19 11 19 22 15 Round your answers to two decimal places. a. Compute MSE using the most recent value as the forecast for the next period. Mean squared error is What is the forecast for month 8? b. Compute MSE using the average of all data available as the forecast for the next period. Mean squared error is What is the forecast for month 8? c. Which method appears to provide the better forecast? - Select your answer -
I don’t understand what to do with this table.
Qn4. The stem and leaf plot below gives the truncated average weekly incomes (in THOUSANDS of dollars) of several families. Stem Leaves 1 8 2 1 3 1 40 55 61 5 13499 29 2. Evaluate the following for the actual data value from the stem and leaf plot. (a) What was the highest weekly income range ? (b) What was the lowest weekly income range? (c) How many families are there in the plot? (d) What range does 42 represent?
The number of cans of soft drinks sold in a machine each week is recorded below. Develop forecasts for the period indicated and error calculations. 155, 145, 155, 162, 180, 165, 172, 149, 170, 172 Exponential smoothing. Use an alpha level of .3 What is the Mean Squared Error (MSE) What is the Mean Absolute Percentage Error (MAPE)
Please answer part C
A statistical program is recommended. A company that sells musical instruments has been in business for five years. During that time, sales of pianos increased from 12 units in the first year to 76 units in the most recent year. The firm's owner wants to develop a forecast of piano sales for the coming year. The quarterly sales data follow. Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 1 2 3 4 5 4 7 11 12 18 2 4 forecast for quarter 2 forecast for quarter 3 forecast for quarter 4 3 9 10 1 4 5 7 13 5 14 16 22 35 Total Yearly Sales 12 29 35 50 76 (a) Use the following dummy variables to develop an estimated regression equation to account for any seasonal and linear trend effects in the data: x₁ = 1 if quarter 1, 0 otherwise; x₂ = 1 if quarter 2, 0 otherwise; and x3 = 1 if quarter 3, 0 otherwise. (Let t = 1 denote the time series value in quarter 1 of year 1; t = 2 denote the time series value in quarter 2 of year 1; ... and t = 20 denote the time series value in quarter 4 of year 5. Round…

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