Question: Consider the following time series data. Week 1 2 3 4 5 6 Value 19 12 15 10 16 14 Using the average of all

Consider the following time series data.

Week	1	2	3	4	5	6
Value	19	12	15	10	16	14

Using the average of all the historical data as a forecast for the next period, compute the following measures of forecast accuracy. (Round your answers to two decimal places.)

(a)

mean absolute error

MAE =

(b)

mean squared error

MSE =

(c)

mean absolute percentage error

MAPE = %

(d)

What is the forecast for week 7?

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