14. The value of an independent variable from the prior period is referred to as a A. lagged variable.* B. dummy variable. C. predictor variable. D. categorical variable.

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14. The value of an independent variable from the prior period is referred to as a
A. lagged variable.*
B. dummy variable.
C. predictor variable.
D. categorical variable.
15. Demand for a product and the forecasting department's forecast (naïve model) for a product are
shown below. Compute the mean squared error.
Actual Demand
12
15
14
18
Period
1
A. 2.67
B. 4.67
C. 5.33
D. 8.67*
2
3
4
Forecasted Demand
12
15
14
Transcribed Image Text:14. The value of an independent variable from the prior period is referred to as a A. lagged variable.* B. dummy variable. C. predictor variable. D. categorical variable. 15. Demand for a product and the forecasting department's forecast (naïve model) for a product are shown below. Compute the mean squared error. Actual Demand 12 15 14 18 Period 1 A. 2.67 B. 4.67 C. 5.33 D. 8.67* 2 3 4 Forecasted Demand 12 15 14
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