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Problem 15-03 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6 Value 1914 16 10 17 15 Using the naive

Problem 15-03 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6 Value 1914 16 10 17 15 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 (MAE) b. Mean squared error (MSE) c. Mean absolute percentage error (MAPE) Round your answers to two decimal places. MAE = 4.40 MSE = 23.60 MAPE = 32.54 Using the average of all the historical data as a forecast for the next period, compute the same three values. Round your answers to two decimal places. MAE = MSE = MAPE = Which method appears to provide the more accurate forecasts for the historical data? <-- Naive Method or average of all historical data
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Ween Nalue Forecast Erron MAR M SE 19 MAPE 2 19 - 14 16 لی) 70 41214 16.5 * 10 16.33 4 5 -6.33 17 14.75 2.25 14.28 5 (35.714Please rate the answer if you find it helpful. Thanks.?

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