Question: (b) Compute MSE using the average of all the data avaloble as the forecast for the next periot. (Round your answer to two decimal places.)
(b) Compute MSE using the average of all the data avaloble as the forecast for the next periot. (Round your answer to two decimal places.) MSE - What is the forecast for month s? (c) Which method appears to previde the better forecast? The most recent value provides a better forecast, becaute is MSE is smaller than the MSE using the average of all the previous values. The most recent value provides a better forecast, because its forecast for month 8 is smalier thas the month 8 forecast using the average of all the previous values. The weroge of all the previous valves provides a better forecas, becaute is MSt is smaller than the MSE using the most recent value. The average of all the previous values provides o betfer forecast, because its forecast for month 8 is iarger than the month s forecast using the most recent value
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