Compute the measures of forecast accuracy

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Reference no: EM132150522

Consider the following time series data. Week 1 2 3 4 5 6 Value 20 12 16 10 18 14 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. (a) Mean absolute error If required, round your answer to one decimal place. (b) Mean squared error If required, round your answer to one decimal place. (c) Mean absolute percentage error If required, round your intermediate calculations and final answer to two decimal places. (d) What is the forecast for week 7?

Reference no: EM132150522

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