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(a) (30%) Calculate the 12-month % change in the FPPI and the FIF for the two provinces between 2005 and 2015 (i.e compared to a

(a) (30%) Calculate the 12-month % change in the FPPI and the FIF for the two provinces between 2005 and 2015 (i.e compared to a period 1 year ago, i.e, January 2005 compared to January 2004, February 2005 compared to February 2004, etc. For the FPPI, the comparison is between the quarters, i.e., Q1 2005 compared to Q1 2004, Q2 2005 to Q2 2004 etc.). Plot the resulting series (Separately for the FPPI and the FIPI) for both provinces, and calculate the arithmetic and the geometric mean. (2 charts, 4 geometric means and 4 arithmetic means). Given that you are dealing with growth rates, is the geometric or arithmetic mean more meaningful? Explain
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7 inflationQuebec 8 inflation Saskatchewan 9 Footnotes: The Farm Input Price Index (FIPI) estimates the change in price that farmers pay for inp 10 0.0425 1 For more information, or to enquire about the concepts, methods or data quality of thi 2 This CANSIM table replaces table 328-0015, which is archived. 13 Source: 14 Statistics Canada. Table 328-0016- Farm input price index, quarterly (index, 2012-100) 15 (accessed: October 02, 2017) 16 17 18 19 geometric mean 20 21 1.0150 Quebec 0.0331 geometric mean of Quebec is 1.0425 Saskatchewan 0.0427 geometric mean of Saskatchewan is Quebec Saskatchewa 0.0450 24 0.0343 25 arithmetic mean 26 27 28 29 30

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