Question: 1.Consider the following time series data. Week 1 2 3 4 5 6 7 Value 24 13 20 12 19 23 15 Use naive method

1.Consider the following time series data.

Week 1 2 3 4 5 6 7

Value 24 13 20 12 19 23 15

Use naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.

(1) Mean Absolute Error

(2) Mean Squared Error

(3) Mean Absolute Percentage Error

(4) What is the forecast for week 8?

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