Consider the following time series data. Week 1 2 3 4 5 6 Value 17 13 15 12 16 14 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 MAE = (b) mean squared error MSE = (c) mean absolute percentage error (Round your answer to two decimal places.) MAPE = % (d) What is the forecast for week 7? Type here to search 414 רו + L zoom 72°F

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Consider the following time series data.
Week
1
2
3
4
5
6
Value
17
13
15 12 16
14
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
MAE =
(b) mean squared error
MSE =
(c) mean absolute percentage error (Round your answer to two decimal places.)
MAPE =
%
(d) What is the forecast for week 7?
Type here to search
414
רו
+
L
zoom
72°F
Transcribed Image Text:Consider the following time series data. Week 1 2 3 4 5 6 Value 17 13 15 12 16 14 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 MAE = (b) mean squared error MSE = (c) mean absolute percentage error (Round your answer to two decimal places.) MAPE = % (d) What is the forecast for week 7? Type here to search 414 רו + L zoom 72°F
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