Question: Refer to the time series data in Exercise 1. Using the average of all the historical data as a forecast for the next period, compute

Refer to the time series data in Exercise 1. Using the average of all the historical data as a forecast for the next period, compute the following measures of forecast accuracy:

Refer to the time series data in Exercise 1. Using the average of all the historical data as a

forecast for the next period, compute the following measures of forecast accuracy:

a. Mean absolute error

b. Mean squared error

c. Mean absolute percentage error

d. What is the forecast for Week 7?

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