Question: Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 Refer to the time series data in Exercise Using the average

Week

1

2

3

4

5

6

Value

18

13

16

11

17

14

  1. Refer to the time series data in Exercise Using the average of all the historical data as a forecast for the next period, compute the following measures of forecast accuracy:
  1. Mean absolute error
  2. Mean squared error
  3. Mean absolute percentage error
  4. What is the forecast for week 7?

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