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Consider the following time series data. Week 1 2 3 4 5 6 Value 18 14 17 12 18 13 Using the average of all
Consider the following time series data.
Week | 1 | 2 | 3 | 4 | 5 | 6 |
---|---|---|---|---|---|---|
Value | 18 | 14 | 17 | 12 | 18 | 13 |
Using the average of all the historical data as a forecast for the next period, compute the following. (Round your answers to two decimal places.)
(a) mean absolute error MAE = 2.98
(b) mean squared error MSE = 10.24
(c) mean absolute percentage error MAPE =
(d)What is the forecast for week 7?
I have provided correct answers for parts a and b. Please show on excel how to calculate all parts. Show formulas
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