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1. (6 points) You are given the following time series data for cotton. Calculate the 3-year moving averages in the table below (Round to the

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1. (6 points) You are given the following time series data for cotton. Calculate the 3-year moving averages in the table below (Round to the nearest ten thousandth or 4 decimal places) then answer the following questions. Year $/lb Difference from Year Prior $/lb 3-Year Moving Average $/1b 2009 $0.648 2010 $0.846 $0.20 2011 $0.935 $0.09 2012 $0.757 ($0.18) 2013 $0.838 $0.08 2014 $0.657 ($0.18) 2015 $0.645 ($0.01) 2016 $0.705 $0.06 2017 $0.719 $0.01 2018 $0.723 $0.00 2019 $0.623 ($0.10) 1b. Use basic extrapolation techniques to calculate the trend increase or decrease in $/lb per year over this time period (Round to four decimal places)? DO NOT USE EXCEL OR SIMILAR SOFTWARE TO MAKE THIS CALCULATION 1c. Forecast the $/lb for 2020 and 2021 using the trend you calculated and the extrapolation method (Round to four decimal places). 2020: 2021: 1. (6 points) You are given the following time series data for cotton. Calculate the 3-year moving averages in the table below (Round to the nearest ten thousandth or 4 decimal places) then answer the following questions. Year $/lb Difference from Year Prior $/lb 3-Year Moving Average $/1b 2009 $0.648 2010 $0.846 $0.20 2011 $0.935 $0.09 2012 $0.757 ($0.18) 2013 $0.838 $0.08 2014 $0.657 ($0.18) 2015 $0.645 ($0.01) 2016 $0.705 $0.06 2017 $0.719 $0.01 2018 $0.723 $0.00 2019 $0.623 ($0.10) 1b. Use basic extrapolation techniques to calculate the trend increase or decrease in $/lb per year over this time period (Round to four decimal places)? DO NOT USE EXCEL OR SIMILAR SOFTWARE TO MAKE THIS CALCULATION 1c. Forecast the $/lb for 2020 and 2021 using the trend you calculated and the extrapolation method (Round to four decimal places). 2020: 2021

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