Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.

Consider the following time series data:

Week             1                   2                 3                4                 5                     6

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Value            18                 13            16               11              17                   14

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

B. mean squared error

C. mean absolute percentage error

d. What is the forecast for Week 7?

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