Question: 12. A simple forecasting method for weekly sales of flash drives used by a local computer dealer is to form the average of the two


12. A simple forecasting method for weekly sales of flash drives used by a local computer dealer is to form the average of the two most recent sales figures! Suppose sales for the drives for the past 12 weeks were Week: Sales: 1 86 2 75 3 72 2 6 65 7 110 8 90 9 67 10 92 11 98 12 73 a. Determine the one-step-ahead forecasts made for periods 3 through 12 using this method b. Determine the forecast errors for these periods. c. Compute the MAD, the MSE, and the MAPE based on the forecast errors computed in part (b). 5. What is the estimate of the standard deviation of forecast error obtained from the data in Problem 12
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