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Please state what exactly the answer is in the format given and how you get it, thanks. Problem 15-03 (Algorithmic) Consider the following time series
Please state what exactly the answer is in the format given and how you get it, thanks.
Problem 15-03 (Algorithmic) Consider the following time series data. Week2 3 4 5 6 Week 1 2 3 4 5 6 Value 18 12 16 11 17 13 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 MAPEStep by Step Solution
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