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Consider the following time series data. Week 1 2 3 4 5 6 Value 20 13 16 10 18 14 Using the nave method (most

Consider the following time series data.

Week 1 2 3 4 5 6
Value 20 13 16 10 18 14

Using the nave 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 (MAPE)

Round your answers to two decimal places.

MAE =

MSE =

MAPE =

Using the average of all the historical data as a forecast for the next period, compute the same three values. Round your answers to two decimal places.

MAE =

MSE =

MAPE =

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