Question

A time series analysis was performed to determine the number of new online customers that joined the "˜Jelly of the Month Club". The actual number of new customers, the forecast values and error terms is presented in the following table. The mean squared error (MSE) for this forecast is ___________.
Month Actual Forecast Error
July 4

Aug 6 5 -1
Sept 3 6 3
Oct 9 8 -1
Nov 8 9 1

a) -0.50
b) 0.50
c) 1.50
d) 7.00
e) 3.00

Answer

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