Essentials of Business Analytics 1st Edition by Jeffrey Camm,James Cochran,Michael Fry,Jeffrey Ohlmann ,David Anderson

تمرين 1

Consider the following time series data:

a. Compute MSE using the most recent value as the forecast for the next period. What is the forecast for month 8
b. Compute MSE using the average of all the data available as the forecast for the next period. What is the forecast for month 8
c. Which method appears to provide the better forecast