Consider the following time series data: Week 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....

1. Consider the following time series data:

Week                Value

1. 
   
   
   
   1. 
      
      
      
      1. 18
      
      
      2. 13
      
      
      3. 16
      
      
      4. 11
      
      
      5. 17
      
      
      6. 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?