The MSE is to be calculated again, but this time will be based on the forecasts made using the average of the data. The given data follow. Month 1 2 3 4 5 6 7 Value 18 26 22 27 23 22 27 The forecast for month 2 will be the observed value from month 1. The forecast for month 3 will be the average of the observed values from months 1 and 2. The forecast for month 4 will be the average of the observed values from months 1, 2, and 3. Complete the column of forecast values using this method. Month Value 1 18 2 26 3 22 4 27 5 23 6 22 7 27 Forecast Value 18+ 26 2 = 18+ 26 +22 3 18 Find the forecast for month 8 using this pattern. (Round your answer to two decimal places) Type here to search W 43 H 72°F 8:55 PM 5/9/2024 10 PRD +

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
The MSE is to be calculated again, but this time will be based on the forecasts made using the average of the data. The given data follow.
Month
1
2
3
4
5
6
7
Value 18
26
22
27
23
22
27
The forecast for month 2 will be the observed value from month 1. The forecast for month 3 will be the average of the observed values from months 1 and 2. The forecast for
month 4 will be the average of the observed values from months 1, 2, and 3.
Complete the column of forecast values using this method.
Month Value
1
18
2
26
3
22
4
27
5
23
6
22
7
27
Forecast Value
18+ 26
2
=
18+ 26 +22
3
18
Find the forecast for month 8 using this pattern. (Round your answer to two decimal places)
Type here to search
W
43
H
72°F
8:55 PM
5/9/2024
10
PRD
+
Transcribed Image Text:The MSE is to be calculated again, but this time will be based on the forecasts made using the average of the data. The given data follow. Month 1 2 3 4 5 6 7 Value 18 26 22 27 23 22 27 The forecast for month 2 will be the observed value from month 1. The forecast for month 3 will be the average of the observed values from months 1 and 2. The forecast for month 4 will be the average of the observed values from months 1, 2, and 3. Complete the column of forecast values using this method. Month Value 1 18 2 26 3 22 4 27 5 23 6 22 7 27 Forecast Value 18+ 26 2 = 18+ 26 +22 3 18 Find the forecast for month 8 using this pattern. (Round your answer to two decimal places) Type here to search W 43 H 72°F 8:55 PM 5/9/2024 10 PRD +
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman