Measures of forecast accuracy

Assignment Help Operation Management

Reference no: EM13811358

Consider the following time series data

Month 1 2 3 4 5 6

Value 18 13 16 11 17 14

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

a. mean absolute error

b mean squarred error

c. mean absolute percentage error

d. What is the forcast for week 7?

Reference no: EM13811358

Questions Cloud

What are the consequences of not citing computer programs : Review the document on code citation and documentation guidelines in the Course Materials section of your student Web site and the Avoiding Plagiarism tutorial available on your student Web site. Discuss the issues of proper citation as they apply..

Calculating the cost of equity : Suppose stock in Boone Corporation has a beta of .90. The market rate premium is 7 percent, and the risk-free is 8 percent. Boone's las dividend was $1.80 per share, and the dividend is expected to grow at 7 percent indefinitely. The stock currently ..

Expected return on the market portfolio : The risk-free rate is 5 percent and the expected return on the market portfolio is 9 percent. If a company has a beta of 0.90, what is the stock's expected rate of return according to CAPM?

Discuss the type of law enforcement and judicial system : Discuss how leadership positions would be instated. Discuss the type of law enforcement and judicial system you would put into place, and discuss your rehabilitation system for any criminal offender.

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

What are the parts of an audience in a companywide e-mail : What are the different parts of an audience in a companywide e-mail? How did you approach dealing with each of their concerns?

Security is relatively less risky than security : An investor is considering investing in only one of the following securities: Security B is relatively less risky than Security C. Securities B and C are of equal relative risk. Security C is more desirable than Security A if the investor is very ris..

Implement a connection to a database : Compare and contrast database connectivity in VB and C#. If you studied database connectivity in Java, include Java in the comparison. In which language do you find it easiest to implement a connection to a database? Why

Create a marketing plan for a hypothetical product based com : Create a marketing plan for a hypothetical product-based company. You will compile information on the company's background information, an environmental analysis, your company's short and long-term goals, and a SWOT analysis. 1.Write an introduction ..

User Account

All Pages