Can someone Please help? Please number so I can understand. C111. Consider t

    0

    Can someone Please help? Please number so I can understand.

    C111. Consider the following time series data:

    Week

    1

    2

    3

    4

    5

    6

    Value

    18

    13

    16

    11

    17

    14

    Using the naAf?ve method (most recent value) as the forecast for the next week 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?

    2. Refer to the time series data in Problem 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?

    3. Problems 1 and 2 used different forecasting methods. Which method appears to provide the more accurate forecasts for the historical data?
    Explain.

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