Consider the following time series data. Week 1 2 Value 17 12 17 12 18 15 3 4 5 6 Using the naive method (most recent value) as the forecast for the next week, compute the following. (a) mean absolute error MAE =

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Consider the following time series data.
Week
1 2
Value 17 12
(b) mean squared error
MSE =
3
%
4 5
сл
Using the naive method (most recent value) as the forecast for the next week, compute the following.
(a) mean absolute error
MAE =
6
17 12 18 15
(d) What is the forecast for week 7?
(c) mean absolute percentage error (Round your answer to two decimal places.)
MAPE =
Transcribed Image Text:Consider the following time series data. Week 1 2 Value 17 12 (b) mean squared error MSE = 3 % 4 5 сл Using the naive method (most recent value) as the forecast for the next week, compute the following. (a) mean absolute error MAE = 6 17 12 18 15 (d) What is the forecast for week 7? (c) mean absolute percentage error (Round your answer to two decimal places.) MAPE =
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