Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by CBS per week for the past six weeks follows. Week 1 2 3 4 5 6 Value 17 12 17 10 16 15 Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. (a) mean absolute error
Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by CBS per week for the past six weeks follows. Week 1 2 3 4 5 6 Value 17 12 17 10 16 15 Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. (a) mean absolute error
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.7: Exponential Smoothing Models
Problem 28P: The file P13_28.xlsx contains monthly retail sales of U.S. liquor stores. a. Is seasonality present...
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![Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by CBS per week for the past six
weeks follows.
Week
1 2 3
Value 17 12 17
(a) mean absolute error
MAE =
(b) mean squared error
MSE =
Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast
accuracy.
4
%
5 6
(d) What is the forecast for week 7?
10 16 15
(c) mean absolute percentage error (Round your answer to two decimal places.)
MAPE =](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa0c23676-8ce1-4a4d-9fcb-bf468e921158%2Fcbae04ae-2782-4ec2-83c4-ec2ffcba002e%2Fb2f0rc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by CBS per week for the past six
weeks follows.
Week
1 2 3
Value 17 12 17
(a) mean absolute error
MAE =
(b) mean squared error
MSE =
Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast
accuracy.
4
%
5 6
(d) What is the forecast for week 7?
10 16 15
(c) mean absolute percentage error (Round your answer to two decimal places.)
MAPE =
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