Consider the following time series data. Week 1 2 3 4 5 6 Value 18 14 16 10 19 13 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. Mean absolute error. If required, round your answer to one decimal place. Mean squared error. If required, round your answer to one decimal place. Mean absolute percentage error. If required, round your intermediate calculations and final answer to two decimal places.
Consider the following time series data. Week 1 2 3 4 5 6 Value 18 14 16 10 19 13 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. Mean absolute error. If required, round your answer to one decimal place. Mean squared error. If required, round your answer to one decimal place. Mean absolute percentage error. If required, round your intermediate calculations and final answer to two decimal places.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 3CYU
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Consider the following time series data.
Week | 1 | 2 | 3 | 4 | 5 | 6 |
Value | 18 | 14 | 16 | 10 | 19 | 13 |
Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.
Mean absolute error. If required, round your answer to one decimal place.
Mean squared error. If required, round your answer to one decimal place.
Mean absolute percentage error. If required, round your intermediate calculations and final answer to two decimal places.
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