Question: QUESTION 5 Consider the following time series data. Year Value 1 250 N 220 3 310 4 280 5 265 6 340 Using the average

QUESTION 5 Consider the following time series data. Year Value 1 250 N 220 3 310 4 280 5 265 6 340 Using the average of all the historical data as a forecast for the next year: 1. Compute the Mean absolute error (MAE). MAE= 2. What is the forecast for year 7? Value = Note: Round the answers to two decimal places if needed

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