MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Step 4
The following table summarizes the given data and the forecast values. There will not be a forecast error for the first month. Complete the columns for the forecast error and squared forecast error.
Month Value Forecast Value
1
2
3
4
5
6
7
19
27
23
28
24
23
28
19
23
23
24.25
24.2
24
Forecast Error
Actual - Forecast
Submit Skip (you cannot come back)
27 19 = 8
0
5
-0.25
4
Total
Squared Forecast Error
(Actual - Forecast)²
(8)² = 64
0
1.44
The MSE will be the average of the squared forecast error column. Find the average of this column, rounding the result to two decimal places.
MSE =
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Transcribed Image Text:Step 4 The following table summarizes the given data and the forecast values. There will not be a forecast error for the first month. Complete the columns for the forecast error and squared forecast error. Month Value Forecast Value 1 2 3 4 5 6 7 19 27 23 28 24 23 28 19 23 23 24.25 24.2 24 Forecast Error Actual - Forecast Submit Skip (you cannot come back) 27 19 = 8 0 5 -0.25 4 Total Squared Forecast Error (Actual - Forecast)² (8)² = 64 0 1.44 The MSE will be the average of the squared forecast error column. Find the average of this column, rounding the result to two decimal places. MSE =
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