Question: Problem 1 . 5 ( Forecasting methods ) : Suppose that we are currently at time t = 3 6 5 and want to forecast

Problem 1.5(Forecasting methods): Suppose that we are currently at time t=365 and want to
forecast the daily demands for electricity for the next 10 days. (If necessary, use the seasonality
s=7 to consider daily patterns within a week in the time series data.)(8 points)
(a) If we use the mean forecasting method, what is the 10-day-ahead forecast for the electricity
demand y375?
(b) Use the nave method and find the 10-day-ahead forecast for the electricity demand y375.
(c) If we use the seasonal nave method, what is the 10-day-ahead forecast for the electricity
demand y375?
(d) If we use the drift forecasting method, what is the 10-day-ahead forecast for the electricity
demand y375?

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