(a) Compute MSE using the most recent value as the forecast for the next period. What is the forecast for month 8?The MSE, mean squared error, is a measure of forecast accuracy and is the average of the squared forecast errors. Before this can be found, we first need to find the forecast values, forecast error, and squared forecast errors.Forecasts will be made using the most recent values known. There will be no forecast for the first month. The forecast value for month 2 will be the observed value from month 1, so the forecast value for month 2 is [from month 2, so the forecast value for month 3 is1. This pattern will continue for the rest of the months.Complete the column for the forecast value in the table below.Month Value Forecast Value123456719272328242328[[T[Find the forecast for month 8 using this pattern.The forecast value for month 3 will be the observed value Consider the following time series data.Month 1 2Value 19 27 23 28 24 2328(a) Compute MSE using the most recent value as the forecast for the next period. What is the forecast for month 8?(b) Compute MSE using the average of all the data available as the forecast for the next period. What is the forecast for month 8?34567(c) Which method appears to provide the better forecast?

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Answered: t for the next period. What is the…

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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The time it takes an employee to package the components of a certain product is normally distributed with ? = 7.5 and ? = 1.5 minutes. As an incentive, management has decided to give a bonus to the 25% of employees who took the shortest amount of time to package the components. Find the amount of time taken to package the components that will indicate that an employee should get a bonus. (Round your answer to two decimal places.) An employee must package components in a time minutes.
Choose the best statement to summarize the association shown between hat size and IQ in the scatterplot below. Hat Size O The scatterplot does not show a trend that would indicate an association between hat size and IQ scores. O As hat size increases, IQ scores tend to decrease. O As hat size increases, IQ scores tend to increase. Hat size causes IQ to increase.
The table below shows the share of income going to each quintile of the income distribution for Neverland in 1980 and 1990. Complete the table below finding the the cumulative share of income for 1980 and 1990 and answer the following: Share of income in Cumulative share of Share of income in Cumulative share of Quintiles 1980 income in 1980 1990 income in 1990 1st 7% 6.6.% 2nd 11.5% 11.5% 3rd 17% 16.3% 4th 24.8% 22.7% 5th 39.7% 42.9% a) Sketch the Perfect Equality line and the Lorenz curve for 1980 and for 1990. Don't forget to label your graph and your curves! b) According to the Lorenz curves that you draw in (a), which year had worse income inequality, 1980 or 1990? JUSTIFY your answer! NOTE: This is a file upload question. Work your answer in a piece of paper, take a picture and upload your file.
A certain basketball team makes 70% of its free throws on average. In a game where the team shoots 40 free throws. what is the approximate probabillity that the number of free throws made by the team wilbe at least 25%
.n 27. You are given the following values of moments: 42 = 43.353, H3 =-9.774, 44 = 5508.567. %3D is 3. 0195 tuods ainemom ed L coubnye goiwollot ertt mor eS noe
=CONFIDENCE.T (0.1, 3.533, 16
Illustration 31. and q. The Mean of a binomial distribution is 20 and S.D. 4. Calculate n, p
The values listed below are waiting times (in minutes) of customers at two different banks. At Bank A, customers enter a single waiting line that feeds three teller windows. At Bank B, customers may enter any one of three different lines that have formed at three teller windows. Answer the following questions. Bank A Bank B 6.4 4.2 6.6 5.4 6.7 5.7 < 6.8 6.2 7.1 6.7 Click the icon to view the table of Chi-Square critical values. 7.3 7.7 7.5 7.7 Construct a 95% confidence interval for the population standard deviation o at Bank A. min < Bank A min (Round to two decimal places as needed.) 7.9 8.5 7.9 9.3 7.9 10.0 Question Viewer ho

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t for the next period. What is the forecast for m as the forecast for the next period. What is the