Consider the following time series datamonth 1 2 3 4 5, Ask an Expert

Management Studies

Consider the following time series data

Month 1 2 3 4 5 6

Value 18 13 16 11 17 14

Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.

a. mean absolute error

b mean squarred error

c. mean absolute percentage error

d. What is the forcast for week 7?

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