Month 1 23Value 21 10 17 9 16 20 125 6 7Compute MSE using the most recent value as the forecast for the next period.MSE = 60.5What is the forecast for month 8?12Compute MSE using the average of all the data available as the forecast for the next period. (Round your answer to twodecimal places.)MSE = 36.12What is the forecast for month 8?17.857 XWhich method appears to provide the better forecast?The average of all the previous values provides a better forecast, because its forecast for month 8 is larger than themonth 8 forecast using the most recent value.O The most recent value provides a better forecast, because its forecast for month 8 is smaller than the month 8forecast using the average of all the previous values.O The most recent value provides a better forecast, because its MSE is smaller than the MSE using the average of allthe previous values.The average of all the previous values provides a better forecast, because its MSE is smaller than the MSE using themost recent value.

Month 1 2 3 4 5 6 7 Value 21 10 17 9 16 20 12 what is the forecast for month 8?

Answered: Month 1 2 3 4 5 What is the forecast…

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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Step 4 The following table summarizes the given data and the forecast values. There will not be a forecast error for the first month. Complete the columns for the forecast error and squared forecast error. Month Value Forecast Value 1 2 3 4 5 6 7 19 27 23 28 24 23 28 19 23 23 24.25 24.2 24 Forecast Error Actual - Forecast Submit Skip (you cannot come back) 27 19 = 8 0 5 -0.25 4 Total Squared Forecast Error (Actual - Forecast)² (8)² = 64 0 1.44 The MSE will be the average of the squared forecast error column. Find the average of this column, rounding the result to two decimal places. MSE =
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