The data in CPI-U reflect the annual values of the consumer price index (CPI) in the United
Question:
a. Plot the data.
b. Describe the movement in this time series over the 45-year period.
c. Compute a linear trend forecasting equation and plot the trend line.
d. Compute a quadratic trend forecasting equation and plot the results.
e. Compute an exponential trend forecasting equation and plot the results.
f. Which model is the most appropriate?
g. Using the most appropriate model, forecast the CPI for 2010 and 2011.
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Related Book For
Basic Business Statistics Concepts And Applications
ISBN: 9780132168380
12th Edition
Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel
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