For the following time series data, using the naïve method (the most recent value as the forecast for the next period), compute the following measures of forecast accuracy. a
Mean absolute error (MAE)
b.Mean squared error (MSE)
c.What is the forecast for period 7?

Question

For the following time series data, using the naïve method (the most recent value as the forecast for the next period), compute the following measures of forecast accuracy.  a
Mean absolute error (MAE) 
b.Mean squared error (MSE)
c.What is the forecast for period 7?

Quizplus · Accepted Answer

The Answer of For the following time series data, using the naïve method (the most recent value as the forecast for the next period), compute the following measures of forecast accuracy.  a
Mean absolute error (MAE) 
b.Mean squared error (MSE)
c.What is the forecast for period 7?

For the Following Time Series Data, Using the Naïve Method