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Consider the following time series data. 1 2 3 Week 4 Value 20 12 16 11 19 14 Using the nalve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. a. Mean absolute error. If required, round your answer to one decimal place. b. Mean squared error. If required, round your answer to one decimal place. C. Mean absolute percentage error. If required, round your intermediate calculations and final answer to two decimal places. d. What is the forecast for week 7? If required, round your answer to two decimal place.

Consider the following time series data. 1 2 3 Week 4 Value 20 12 16 11 19 14 Using the nalve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. a. Mean absolute error. If required, round your answer to one decimal place. b. Mean squared error. If required, round your answer to one decimal place. C. Mean absolute percentage error. If required, round your intermediate calculations and final answer to two decimal places. d. What is the forecast for week 7? If required, round your answer to two decimal place.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Consider the following time series data. 1 2 3 Week 4 Value 20 12 16 11 19 14 Using the nalve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. a. Mean absolute error. If required, round your answer to one decimal place. b. Mean squared error. If required, round your answer to one decimal place. C. Mean absolute percentage error. If required, round your intermediate calculations and final answer to two decimal places. d. What is the forecast for week 7? If required, round your answer to two decimal place.
Transcribed Image Text:Consider the following time series data. 1 2 3 Week 4 Value 20 12 16 11 19 14 Using the nalve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. a. Mean absolute error. If required, round your answer to one decimal place. b. Mean squared error. If required, round your answer to one decimal place. C. Mean absolute percentage error. If required, round your intermediate calculations and final answer to two decimal places. d. What is the forecast for week 7? If required, round your answer to two decimal place.
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