Homework answers / question archive / Using the naïve method (most recent value) as the forecast for the next week, compute the following 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

Statistics

Share With

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

Mean absolute errorIf required, round your answer to one decimal place.  (b)Mean squared errorIf required, round your answer to one decimal place.  Mean absolute percentage errorIf required, round your intermediate calculations and final answer to two decimal places.  What is the forecast for week 7?