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Consider the following time series data. Month 1 Value 25 14 21 13 3 What is the forecast for month 8? 13 4 5 What is the forecast for month 8? 65 x 6 7 (a) Compute MSE using the most recent value as the forecast for the next period. MSE = 8.97 X 20 24 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 = 8 x (c) Which method appears to provide the better forecast? The average of all the previous values provides a better forecast, because its forecast for month 8 is larger than the month 8 forecast using the most recent value The most recent value provides a better forecast, because its forecast for month 8 is smaller than the month 8 forecast using the average of all the previous values. The most recent value provides a better forecast, because its MSE is smaller than the MSE using the average of all the previous values. The average of all the previous values provides a better forecast, because its MSE is smaller than the MSE using the most recent value.

Consider the following time series data. Month 1 Value 25 14 21 13 3 What is the forecast for month 8? 13 4 5 What is the forecast for month 8? 65 x 6 7 (a) Compute MSE using the most recent value as the forecast for the next period. MSE = 8.97 X 20 24 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 = 8 x (c) Which method appears to provide the better forecast? The average of all the previous values provides a better forecast, because its forecast for month 8 is larger than the month 8 forecast using the most recent value The most recent value provides a better forecast, because its forecast for month 8 is smaller than the month 8 forecast using the average of all the previous values. The most recent value provides a better forecast, because its MSE is smaller than the MSE using the average of all the previous values. The average of all the previous values provides a better forecast, because its MSE is smaller than the MSE using the most recent value.

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. Month 1 2 3 4 5 6 7 25 14 21 13 20 24 16 Value (a) Compute MSE using the most recent value as the forecast for the next period. MSE = 8.97 x What is the forecast for month 8? 13 X (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 8 X What is the forecast for month 8? 65 X (c) Which method appears to provide the better forecast? O The average of all the previous values provides a better forecast, because its forecast for month 8 is larger than the month 8 forecast using the most recent value. O The most recent value provides a better forecast, because its forecast for month 8 is smaller than the month 8 forecast using the average of all the previous values. O The most recent value provides a better forecast, because its MSE is smaller than the MSE using the average of all the previous values. The average of all the previous values provides a better forecast, because its MSE is smaller than the MSE using the most recent value.
Transcribed Image Text:Consider the following time series data. Month 1 2 3 4 5 6 7 25 14 21 13 20 24 16 Value (a) Compute MSE using the most recent value as the forecast for the next period. MSE = 8.97 x What is the forecast for month 8? 13 X (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 8 X What is the forecast for month 8? 65 X (c) Which method appears to provide the better forecast? O The average of all the previous values provides a better forecast, because its forecast for month 8 is larger than the month 8 forecast using the most recent value. O The most recent value provides a better forecast, because its forecast for month 8 is smaller than the month 8 forecast using the average of all the previous values. O The most recent value provides a better forecast, because its MSE is smaller than the MSE using the average of all the previous values. The average of all the previous values provides a better forecast, because its MSE is smaller than the MSE using the most recent value.
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