Runninghead: Self-Test 1
Self-Test
Iletha Miller
QMB 5355
Robert Miner
November 11, 2015
, Self-Test 2
Self-Test
1. Consider the following time series data.
Week 1 2 3 4 5 6
Value 18 13 16 11 17 14
Using the native method (most recent value) as the forecast for the next week, compare
the following measure of forecast accuracy.
a. Mean absolute error
b. Mean squared error
c. Mean absolute percentage error
d. What is the forecast for week 7?
Forecast for week 7 is 14
2. Refer to the time series data in Exercise 1. Using the average of all the historical data as a forecast
for the next period, compute the following measures of forecast accuracy.
a. Mean absolute error
b. Mean squared error
Self-Test
Iletha Miller
QMB 5355
Robert Miner
November 11, 2015
, Self-Test 2
Self-Test
1. Consider the following time series data.
Week 1 2 3 4 5 6
Value 18 13 16 11 17 14
Using the native method (most recent value) as the forecast for the next week, compare
the following measure of forecast accuracy.
a. Mean absolute error
b. Mean squared error
c. Mean absolute percentage error
d. What is the forecast for week 7?
Forecast for week 7 is 14
2. Refer to the time series data in Exercise 1. Using the average of all the historical data as a forecast
for the next period, compute the following measures of forecast accuracy.
a. Mean absolute error
b. Mean squared error
