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Consider the following series; Week 1, 2, 3, 4, 5, 6, Value 20,13,15,11,18,14 Using the nave method (most recent value) as the forecast for the
Consider the following series;
Week 1, 2, 3, 4, 5, 6,
Value 20,13,15,11,18,14
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?
___________
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