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Answer to Consider the following time series data. Week 1 2 3 4
Answer to 6. The mean absolute error, mean squared error, and
Question: Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.
Answer to 3. Calculate the mean absolute percentage error
See Answer. Question: Suppose for a particular week, the forecasted sales were $4,000. The actual sales were $3,000. What is the value of the mean absolute percentage error? a. -33.3% b. -25% c. 25% d. 33.33%. Suppose for a particular week, the forecasted sales were $4,000. The actual sales were $3,000.
Mean absolute error: If required, round your answer to one decimal place. (b) Mean squared error: If required, round your answer to one decimal place. (c) Mean absolute percentage error: If required, round your intermediate calculations and final answer to two decimal places. (d) What is the forecast for week 7?
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If required, round your answer to two decimal place. There are 2 steps to solve this one. Solution. Answered by. Statistics and probability expert. Step 1. Solution: Actual value for week 1 to 6 are given in the question. View the full answer Step 2.
Answer to The Mean Error (ME), Mean Absolute Error (MAE), Mean
Daily high temperatures in St. Louis for the last week were as follows: 92, 91, 94, 95, 97, 90, 93 (yesterday). a) The high temperature for today using a 3-day moving average = 93.3 degrees (round your response to one decimal place). b) The high temperature for today using a 2-day moving average = 91.5 degrees (round your response to one ...