Question: Problem 1 . 5 ( Forecasting methods ) : Suppose that we are currently at time t = 3 6 5 and want to forecast
Problem Forecasting methods: Suppose that we are currently at time t and want to
forecast the daily demands for electricity for the next days. If necessary, use the seasonality
s to consider daily patterns within a week in the time series data. points
a If we use the mean forecasting method, what is the dayahead forecast for the electricity
demand y
b Use the nave method and find the dayahead forecast for the electricity demand y
c If we use the seasonal nave method, what is the dayahead forecast for the electricity
demand y
d If we use the drift forecasting method, what is the dayahead forecast for the electricity
demand yProblem Forecasting methods: Suppose that we are currently at time and want to
forecast the daily demands for electricity for the next days. If necessary, use the seasonality
to consider daily patterns within a week in the time series data. points
a If we use the "mean" forecasting method, what is the dayahead forecast for the electricity
demand
b Use the "naive" method and find the dayahead forecast for the electricity demand
c If we use the "seasonal naive" method, what is the dayahead forecast for the electricity
demand
d If we use the "drift" forecasting method, what is the dayahead forecast for the electricity
demand
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