Problem 6-01 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6 Value 20 13 15 11 17 14 Using the naïve met
hod (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. Mean absolute error. If required, round your answer to one decimal place. Mean squared error. If required, round your answer to one decimal place. Mean absolute percentage error. If required, round your intermediate calculations and final answer to two decimal places. % What is the forecast for week 7? If required, round your answer to two decimal place.
Problem 6-01 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6 Value 20 13 15 11 17 14 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. Mean absolute error. If required, round your answer to one decimal place. Mean squared error. If required, round your answer to one decimal place. Mean absolute percentage error. If required, round your intermediate calculations and final answer to two decimal places. % What is the forecast for week 7? If required, round your answer to two decimal place.
Michelle can fold 4/54 baskets per minute = 8/108 baskets per minute. Ruby can fold 4/108 baskets per minute.
Each minute Michelle and Ruby work together, they can fold 8/108 +4/108 = 12/108 = 1/9 of a basket of clothes. For 8 baskets of clothes, it will take them (8 baskets)/(1/9 baskets/minute) = 72 minutes
