Please correct parts a and b Consider the following time series data.Month1234Value25121913182416(a) Compute MSE using the most recent value as the forecast for the next period. (Round your answer to two decimal places.)MSE = 23.68What is the forecast for month 8?16(b) Compute MSE using the average of all the data available as the forecast for the next period. (Round your answer to two decimal places.)MSE = 13.87What is the forecast for month 8? (Round your answer to two decimal places.)18.14(c) Which method appears to provide the better forecast?O The method using the average of all the data available appears to be better since the MSE islarger.O The method using the most recent value appears to be better since the MSE is larger.O The method using the average of all the data available appears to be better since the MSE issmaller.O The method using the most recent value appears to be better since the MSE is smaller.

calculate the forecast error compute the mean squared error

Answered: Consider the following time series…

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015

1st Edition

ISBN:9781680331141

Author:HOUGHTON MIFFLIN HARCOURT

Publisher:HOUGHTON MIFFLIN HARCOURT

Chapter9: Solving Quadratic Functions

Section: Chapter Questions

Problem 4CA

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