Compute the measures of forecast accuracy

Assignment Help Operation Management

Reference no: EM132194829

Consider the following time series data. Week 1 2 3 4 5 6 Value 18 12 16 10 17 14 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. Mean absolute error. Round your answer to one decimal place. Mean squared error. Round your answer to one decimal place. Mean absolute percentage error. Round your answer to two decimal places. What is the forecast for week 7? Round your answer to the nearest whole number.

Reference no: EM132194829

Questions Cloud

Five-week moving averages for the time series : Compute four-week and five-week moving averages for the time series.

Estimate stahlmaere expected mean profit : Then use a data table to repeat the simulation 1000 times. From the simulation results, estimate Stahlmaere's expected mean profit.

Analyze the future of utilization management approaches : Discuss basic approaches and techniques used in utilization management. Analyze the future of utilization management approaches.

Refer to the evaluating data quality learning activity : Refer to the "Evaluating Data Quality" learning activity. Imagine that you are a marketing specialist at a media company.

Compute the measures of forecast accuracy : Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.

The influencing techniques with very high potential impact : What are reasons why a leader would not use one of the influencing techniques with a very high potential impact?

Sexual harassment is form of sexual discrimination : Sexual harassment is form of sexual discrimination. Review the firms listed in the same strategic group as American Airlines.

Explain the concept of global marketing management : Explain the concept of global marketing management. Examine at least 1 practical application/example for your topic.

Risk categories that you believe most affect that industry : Describe organization where you currently work or one with which you are familiar. Describe the risk categories that you believe most affect that industry.

User Account

All Pages