a. Report the measure of accuracy: MAE. Round your answer to four decimals. b. Report the measure of accuracy: RMSE. Round your answer to four decimals. c. Report the measure of accuracy: MAPE expressed as a percent. (Convert to a percent and round to two decimals. For instance, if your answer is 0.0123, it will become 1.23%, but do not type the percent sign, so it's just 1.23) d. Using the trend equation developed, forecast revenue in year 11. Round the answer to four decimal places. e. Does autocorrelation appear to be a problem? Plot the forecast error against the time variable. Compute the DW test statistic.  (Round to three decimals.)

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
100%

a. Report the measure of accuracy: MAE. Round your answer to four decimals.
b. Report the measure of accuracy: RMSE. Round your answer to four decimals.
c. Report the measure of accuracy: MAPE expressed as a percent.
(Convert to a percent and round to two decimals. For instance, if your answer is 0.0123, it will become 1.23%, but do not type the percent sign, so it's just 1.23)
d. Using the trend equation developed, forecast revenue in year 11. Round the answer to four decimal places.
e. Does autocorrelation appear to be a problem? Plot the forecast error against the time variable. Compute the DW test statistic.  (Round to three decimals.)

Giovanni Food Products produces and sells frozen pizzas to public schools
throughout the eastern United States. Using a very aggressive marketing
strategy
they have been able to increase their annual revenue by approximately $10
million over the past 10 years. But increased competition has slowed their
growth rate in the past few years. The annual review, in millions of dollars,
for the previous 10 years is shown.
Year
Revenue
8.53
10.84
12.98
14.11
16.31
17.21
18.37
18.45
18.40
18.43
1
2
3
4
5
6
7
8
9
10
Transcribed Image Text:Giovanni Food Products produces and sells frozen pizzas to public schools throughout the eastern United States. Using a very aggressive marketing strategy they have been able to increase their annual revenue by approximately $10 million over the past 10 years. But increased competition has slowed their growth rate in the past few years. The annual review, in millions of dollars, for the previous 10 years is shown. Year Revenue 8.53 10.84 12.98 14.11 16.31 17.21 18.37 18.45 18.40 18.43 1 2 3 4 5 6 7 8 9 10
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps with 2 images

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