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. Forecast Error Month Value Forecast Value Actual - Forecast Squared Forecast Error (Actual Forecast)2 1 18 2 26 18 26 -18=8 (8)2=64 3 22 22 22 4 27 22 5 5 23 23.25 -0.25 6 22 222 7 23.2 27 27 23 4 Total 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= Type here to search 4+ R L W 72°F NEW 9:29 PM 5/9/2024
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. Forecast Error Month Value Forecast Value Actual - Forecast Squared Forecast Error (Actual Forecast)2 1 18 2 26 18 26 -18=8 (8)2=64 3 22 22 22 4 27 22 5 5 23 23.25 -0.25 6 22 222 7 23.2 27 27 23 4 Total 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= Type here to search 4+ R L W 72°F NEW 9:29 PM 5/9/2024
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 2AGP
Question
![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.
Forecast Error
Month
Value
Forecast Value
Actual - Forecast
Squared Forecast Error
(Actual Forecast)2
1
18
2
26
18
26 -18=8
(8)2=64
3
22
22
22
4
27
22
5
5
23
23.25
-0.25
6
22
222
7
23.2
27
27
23
4
Total
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=
Type here to search
4+
R
L W
72°F
NEW
9:29 PM
5/9/2024](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff51ba55c-c908-4919-b13a-3c47ef7ea96e%2F3d1bb81c-76d8-4cbd-89bc-bc7685c796ad%2Fkluoyqg_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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.
Forecast Error
Month
Value
Forecast Value
Actual - Forecast
Squared Forecast Error
(Actual Forecast)2
1
18
2
26
18
26 -18=8
(8)2=64
3
22
22
22
4
27
22
5
5
23
23.25
-0.25
6
22
222
7
23.2
27
27
23
4
Total
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=
Type here to search
4+
R
L W
72°F
NEW
9:29 PM
5/9/2024
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