Consider the following time series data.

Month

$1$

$2$

$3$

$4$

$5$

$6$

$7$

Value

$24$

$13$

$20$

$12$

$19$

$23$

$15$

Using the last value as the forecast for the next period, complete the table below and compute the MAE $($Mean Absolute Error$)$ and MAPE $($Mean Absolute Percentage Error$)$:

Note: Round the numbers to $2$ decimal places if you need to$.$

ABS: The Absolute value

Forecast Method: Naive

Month Value Forecast ABS of Forecast Error ABS of Percentage Error

$124$

$213$ Answer

Answer

Answer

$\%$

$320$ Answer

Answer

Answer

$\%$

$412$ Answer

Answer

Answer

$\%$

$519$ Answer

Answer

Answer

$\%$

$623$ Answer

Answer

Answer

$\%$

$715$ Answer

Answer

Answer

$\%$

MAE $($Mean Absolute Error$)=$ Answer

MAPE $($Mean Absolute Percentage Error$)=$ Answer

$\%$