Given the following data compute the MSE for the forecasts R

Given the following data, compute the MSE for the forecasts. Round your answer to two decimal places. For example, if your answer is 3, enter 3.00. Year Actual Demand Forecast 2010 16 18 2011 19 19 2012 18 23 2013 25 27 Your Answer: Question 8 options:

Solution

Year (n)

Actual Demand (D)

Forecast (F)

Error (E = D - F)

Error squared (E²)

2010

16

18

-2

4

2011

19

19

0

0

2012

18

23

-5

25

2013

25

27

-2

4

? E²

33

MSE

8.25

MSE = ? E²/n = 33/4 = 8.25