Question

Using the data below and the Naïve forecast, what is the forecast for the 3rd week?
Week1, Time Series Value=20.00
Week2, Time Series Value=10.00
Week3, Time Series Value=6.00
Week4, Time Series Value=24.00

Answer 1

In a Naïve forecast, the forecast for the next period (in this case, the 3rd week) is simply the actual value from the most recent period (the 2nd week).

Given the data provided:

- Week 1: 20.00
- Week 2: 10.00
- Week 3: 6.00
- Week 4: 24.00

For the 3rd week, according to the Naïve forecasting method, we look at the actual value from the 2nd week:

**Naïve forecast for Week 3 = Time Series Value from Week 2 = 10.00**

Thus, the forecast for the 3rd week is **10.00**.