Problem 6-01 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6 Value 20 12 16 11 17 13 Using the n

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Problem 6 01 Algorithmic Consider The Following Time Series Data Week 1 2 3 4 5 6 Value 20 12 16 11 17 13 Using The N 1 (34.23 KiB) Viewed 22 times

Problem 6-01 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6 Value 20 12 16 11 17 13 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. a. 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? If required, round your answer to two decimal place.