Question: Week 1 2 3 4 5 6 Value 18 13 15 10 19 14 Using the nave method (most recent value) as the forecast for
Week 1 2 3 4 5 6 Value 18 13 15 10 19 14
Using the nave method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.
- Mean absolute error. If required, round your answer to one decimal place.
- Mean squared error. If required, round your answer to one decimal place.
- Mean absolute percentage error. If required, round your intermediate calculations and final answer to two decimal places.
- What is the forecast for week 7? If required, round your answer to two decimal place.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
