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Consider the following time series data: Week Value 1 18 2 13 3 16 4 11 5 17 6 14 Using the nave method (most
Consider the following time series data:
Week | Value |
1 | 18 |
2 | 13 |
3 | 16 |
4 | 11 |
5 | 17 |
6 | 14 |
Using the nave method (most recent value) as the forecast for the next week, compute the following measures of forecast
- Mean absolute error
- Mean squared error
- Mean absolute percentage error
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