Question: 4 . Measuring the Forecast Accuracy for Monthly Lightning Strikes. The following time series data show the number of lightning strikes in Catahoula County for
Measuring the Forecast Accuracy for Monthly Lightning Strikes. The following time series data show the number of lightning strikes in Catahoula County for the most recent seven months.
Month
Value
a Compute MSE using the most recent value as the forecast for the next period. What is the forecast for Month
b Compute MSE using the average of all the data available as the forecast for the next period. What is the forecast for Month
c Which method appears to provide the better forecast?
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