Consider the following time series data. Week 1 2 3 4 сл 5 6 Value 19 12 16 12 17 13 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?
Consider the following time series data. Week 1 2 3 4 сл 5 6 Value 19 12 16 12 17 13 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?
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
Question
![Consider the following time series data.
Week
1 2
3
4
сл
5
6
Value 19 12
16
12 17
13
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?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7244493e-0d49-402e-be96-186f2cb836c6%2Fbbada2fc-916f-4a22-9833-1c8d1390fca5%2Frrg1sp_processed.png&w=3840&q=75)
Transcribed Image Text:Consider the following time series data.
Week
1 2
3
4
сл
5
6
Value 19 12
16
12 17
13
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?
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