Question: (a) Compute MSE using the most recent value as the forecast for the next period. What is the forecast for month 8 ? (b) Compute

(a) Compute MSE using the most recent value as the forecast for the next period. What is the forecast for month 8 ?

(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 ? (c) Which method appears to provide the better forecast? The MSE will be the average of the squared forecast error column. Find the average of this column. MSE =

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