The following table shows the average price of tomatoes (in dollars per pound) in certain country from 2017 to 2021 Year Price 2017 1.715 2018 0.942 2019 0.916 2020 1.181 2021 1.614

MATLAB: An Introduction with Applications
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  1. The following table shows the average price of tomatoes (in dollars per pound) in certain country from 2017 to 2021

Year

Price

2017

1.715

2018

0.942

2019

0.916

2020

1.181

2021

1.614

 

 

a) Use 2017 as the base period to compute the simple index for this timeseries.
b) By what percentage did the price of tomatoes increase or decreasebetween
2017 and 2021?
c) Calculate an exponential smoothed series for this time series, using
w = 0.6. Forecast the price of tomatoes in 2022.
Transcribed Image Text:a) Use 2017 as the base period to compute the simple index for this timeseries. b) By what percentage did the price of tomatoes increase or decreasebetween 2017 and 2021? c) Calculate an exponential smoothed series for this time series, using w = 0.6. Forecast the price of tomatoes in 2022.
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