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Consider the following time series data. Month 1 2 3 4 5 6 7 Value 22 11 18 10 17 21 13 (a)Compute MSE using

Consider the following time series data.

Month 1 2 3 4 5 6 7

Value 22 11 18 10 17 21 13

(a)Compute MSE using the most recent value as the forecast for the next period.

MSE =

What is the forecast for month 8?

(b)Compute MSE using the average of all the data available as the forecast for the next period. (Round your answer to two decimal places.)

MSE =

What is the forecast for month 8?

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