Question: Week: 1 2 3 4 5 6 Value 18 13 16 11 17 14 Calculate: Mean Absolute error Mean Squared error Mean absolute percentage error

Week: 1 2 3 4 5 6

Value 18 13 16 11 17 14

Calculate:

  1. Mean Absolute error
  2. Mean Squared error
  3. Mean absolute percentage error
  4. What is the forecast for week 7?

Round all answers to one decimal place

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Q:

8-1 Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 Using the nave method (most recent value) as the forecast for the next week, compute the following measures of...

Q:

Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 (a) Choose the correct time series plot. (i) (ii) Time Series Value 20 18 16 14 12 10 Time Series Value 20 18 16 14...

Q:

Check My Work (5 remaining) Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 Using the nave method (most recent value) as the forecast for the next week, compute the...

Q:

I need help with this please. Thank you in advance 1) Consider the following time series data: Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 Using the nave method (most recent value) as the forecast for...

Q:

Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 Using the nave method (most recent value) as the forecast for the next week, compute the following measures of...

Q:

Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 Using the nave method (most recent value) as the forecast for the next week, compute the following measures of...

Q:

1) Consider the following time series data: Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 2) Use the same data in Q 1 but with the average of all historical data method, obtain the Mean absolute error...

Q:

I need help with this please. thank you. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 2) Use the same data in Q 1 but with the average of all historical data method, obtain the Mean absolute error Mean...

Q:

Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. Round your answers...

Q:

Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. Round your answers...

Q:

On 8 January a carpenter opened a savings account at a local bank where the simple interest rate is 24% per year. He deposited R500 on opening his account on 8 January. On 15 January, he deposited a...

Q:

On September 30, Silver Corporation, a calendar year taxpayer, sold a parcel of land (basis of $400,000) for a $1 million note. The note is payable in five installments, with the first payment due...

Q:

All of the following are characteristics of not - for - profit organizations ( NPOs ) that distinguish them from business organizations exceptA ) Contributions by resource providers who do not expect...

Q:

Thomlin Company forecasts that total factory overhesd for the current year will be $11,449,000 with 181,000 total machine nours. Year to date, the ectuai factory overhead is 57,520,000 and the actuol...