Please help out with this question. thank you 1. Out of the three methods, "Naive Forecast", "Moving Average", and "Weighted Moving Average", which produces a smaller mean absolute error?a. Naive Forecastb. Moving Averagec. Weighted Moving Averaged. None of the above-Select- V2.Which method produces the smallest mean squared error?a. Naive Forecastb. Moving Averagec. Weighted Moving Averaged. None of the above-Select- v Conceptual Overview: Explore how using different weights for averaging prior observations in a time series affects the forecast and the accuracy statistics.Averaging prior observations is often a good way to forecast future observations for relatively stable time series. In the graph, the red dots with solid lines represent the time series data and the blue dots with dotted linesrepresent the moving average forecast.Use the buttons at the bottom to select different moving average methods for the prior three observations. The "Naive Forecast" uses only the immediate prior observation. The "Moving Average" gives equal weight to the threeprior observations. The "Weighted Moving Average" weights observations by recency. Compare how the different weighting systems perform as forecasts, both visually and in terms of the statistics, MAE (mean absolute error),MSE (mean squared error), and MAPE (mean absolute percentage error).Show / Hide Text25-20 -Naive Forecast: Wts {0, 0, 1}MAE = 3.89MSE = 17.67MAPE = 20.23%5-14.68101112WeekNaive Forecast Moving Average Weighted Moving AverageCreated by Gary H. McClelland, Professor Emeritus | University of Colorado Boulder© Cengage Learning. All Rights Reserved.Sales (1000s of gallons)

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Description: Please help out with this question. thank you 1. Out of the three methods, "Naive Forecast", "Moving Average", and "Weighted Moving Average", which produces a smaller mean absolute error?a. Naive Forecastb. Moving Averagec. Weighted Moving Averaged.

Mean Absolute Error: Mean Absolute Error is a measure that gives the accuracy of the modal. Smaller…

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1. Out of the three methods, "Naive Forecast", "Moving Average", and "Weighted Moving Average", which produces a smaller mean absolute er a. Naive Forecast b. Moving Average c. Weighted Moving Average d. None of the above |-Select- ♥ 2.Which method produces the smallest mean squared error? a. Naive Forecast b. Moving Average c. Weighted Moving Average d. None of the above -Select- v