(Solution) - CoastCo Insurance Inc is interested in developing a forecast of -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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CoastCo Insurance, Inc., is interested in developing a forecast of larceny thefts in the United States. It has found the following data:

Plot this series in a time-series plot and make a naive forecast for years 2 through 19. Calculate the RMSE and MAD for years 2 through 18. On the basis of these measures and what you see in the plot, what do you think of your forecast? Explain.