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Consider the following time series data. Week 1 2 3 4 5 6 Value 19 13 17 12 18 13 Using the average of all
Consider the following time series data.
Week 1 2 3 4 5 6
Value 19 13 17 12 18 13
Using the average of all the historical data as a forecast for the next period, compute the following measures of forecast accuracy. (Round your answers to two decimal places.)
(a)mean absolute error
MAE =
(b)mean squared error
MSE =
(c)mean absolute percentage error
MAPE =_________%
(d)What is the forecast for week 7?
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