. What is the mean square error for time periods 2 through 4 using the average forecasting method? b. What is the mean absolute error for time periods 2 through 4 using the average forecasting method? c. What is the mean absolute percentage error for time period 2 through 4 using the average forecasting method? Round all answers to two decimal places.
. What is the mean square error for time periods 2 through 4 using the average forecasting method? b. What is the mean absolute error for time periods 2 through 4 using the average forecasting method? c. What is the mean absolute percentage error for time period 2 through 4 using the average forecasting method? Round all answers to two decimal places.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.3: Simple Regression Models
Problem 2P: The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a...
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a. What is the mean square error for time periods 2 through 4 using the average
b. What is the mean absolute error for time periods 2 through 4 using the average forecasting method?
c. What is the mean absolute percentage error for time period 2 through 4 using the average forecasting method?
Round all answers to two decimal places.
Time Period | 1 | 2 | 3 | 4 | Mean absolute error (MAE) | Mean squared error (MSE) |
Mean absolute percentage error (MAPE) |
|
Electric Bill | 510 | 315 | 420 | 480 | ||||
Average Forecast | ||||||||
Forecast Error |
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