Question
Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by CBS per week for the past six weeks follows. Week
Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by CBS per week for the past six weeks follows.
| Week | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
| Value | 17 | 14 | 17 | 12 | 18 | 13 |
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
MAE =
(b)mean squared error
MSE =
(c)mean absolute percentage error (Round your answer to two decimal places.)MAPE = %
(d)What is the forecast for week 7?
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Probability and Stochastic Processes A Friendly Introduction for Electrical and Computer Engineers
Authors: Roy D. Yates, David J. Goodman
3rd edition
1118324560, 978-1118324561
