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Consider the following time series data. Week 1 2 3 4 5 6 Value 18 12 15 12 16 13 Using the naive method
Consider the following time series data. Week 1 2 3 4 5 6 Value 18 12 15 12 16 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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Introduction to Financial Accounting
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
11th edition
978-0133251111, 013325111X, 0133251039, 978-0133251036
