Refer to the time series data in Exercise 1. Using the average of all the historical data

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Refer to the time series data in Exercise 1. Using the average of all the historical data as a forecast for the next period, compute the following measures of forecast accuracy:
a. Mean absolute error
b. Mean squared error
c. Mean absolute percentage error
d. What is the forecast for week 7?

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Modern Business Statistics With Microsoft Excel

ISBN: 9781337115186

6th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

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