consider the following time series data.Month 1 2 3 4 5 6 7Value 24 13 20 12 19 23 15a. compute MSe using the most recent value as the forecast for the next period. Whatis the forecast for month 8?b. compute MSe using the average of all the data available as the forecast for the nextperiod. What is the forecast for month 8?c. Which method appears to provide the better forecast?

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Q: Consider the following time series data. Month 1 2 3 4 5 Value 25 12 19 13 18 24 16 (a) Compute MSE…

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Q: Consider the following time series data. Month 2 3 4 5 6 7 Value 24 13 20 12 19 23 15 Construct a…

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A: c.

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A: Note:- Hey there! As per our policy we can answer only 1 ques at a time. Please make a new request…

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