a. Consider the following time series data: 1 | 2 18 5 | 6 | 14 Week 3 4 Value 13 16 11 17 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy: Mean absolute error Mean squared error Mean absolute percentage error What is the forecast for week 7?
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Angles within a circle are feasible to create with the help of different properties of the circle such as radii, tangents, and chords. The radius is the distance from the center of the circle to the circumference of the circle. A tangent is a line made perpendicular to the radius through its endpoint placed on the circle as well as the line drawn at right angles to a tangent across the point of contact when the circle passes through the center of the circle. The chord is a line segment with its endpoints on the circle. A secant line or secant is the infinite extension of the chord.
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A circular arc is the arc of a circle formed by two distinct points. It is a section or segment of the circumference of a circle. A straight line passing through the center connecting the two distinct ends of the arc is termed a semi-circular arc.
answer the given question
![a. Consider the following time series data:
Week
1 | 2
3
4
Value
18
13
16
11
17
14
Using the naïve method (most recent value) as the forecast for the next week,
compute the following measures of forecast accuracy:
Mean absolute error
Mean squared error
Mean absolute percentage error
What is the forecast for week 7?
b. Refer to the time series data in Problem a. Using the average of all the historical data
as a forecast for the next period, compute the following measures of forecast
accuracy:
Mean absolute error
Mean squared error
Mean absolute percentage error
What is the forecast for week 7?
c. Problems a and b used different forecasting methods. Which method appears to
provide the more accurate forecasts for the historical data? Explain.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2d114051-0524-4730-901a-d3e4c3ceb9c8%2F98e80e16-5afd-4684-9beb-5e720555f74e%2F9citxbp_processed.png&w=3840&q=75)
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