Question: Question 3 Now, the data analyst intends to understand the forecast accuracy. He has collected marketing research data on similar products and developed an autoregressive

Question 3 Now, the data analyst intends to understand the forecast

Question 3 Now, the data analyst intends to understand the forecast accuracy. He has collected marketing research data on similar products and developed an autoregressive model shown below yt=0.21+0.15yt10.30yt2 The forecasts and actual sales figures are compared in the table below. It's also important to assess the accuracy of the model by understand the parameters. Determine the forecast accuracy as measured by the following parameters. (i) Mean absolute error (ii) Mean squared error (iii) Mean absolute percentage error (iv) Comment on the model accuracy [20 Marks]

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