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Consider the following time series data.   Month 1 2 3 4 5 6 7 Value 22 12 18 12 20 22 16   Round your answers to two decimal places. a. Compute MSE using the most recent value as the forecast for the next period. Mean squared error is   What is the forecast for month 8?   b. Compute MSE using the average of all data available as the forecast for the next period. Mean squared error is   What is the forecast for month 8?   c. Which method appears to provide the better forecast?

Consider the following time series data.   Month 1 2 3 4 5 6 7 Value 22 12 18 12 20 22 16   Round your answers to two decimal places. a. Compute MSE using the most recent value as the forecast for the next period. Mean squared error is   What is the forecast for month 8?   b. Compute MSE using the average of all data available as the forecast for the next period. Mean squared error is   What is the forecast for month 8?   c. Which method appears to provide the better forecast?

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
Value 22 12 18 12 20 22 16

 

Round your answers to two decimal places.

a. Compute MSE using the most recent value as the forecast for the next period.

Mean squared error is  

What is the forecast for month 8?

 

b. Compute MSE using the average of all data available as the forecast for the next period.

Mean squared error is  

What is the forecast for month 8?

 

c. Which method appears to provide the better forecast?

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