Consider Model 3 for the price of lettuce. If the price of lettuce in period 100 is 0.85, what is the predicted price of lettuce in period 101? Use four decimal places.

Final Estimates of Parameters

Type Coef SE Coef T P

AR 1 0.6464 0.0697 9.28 0.000

Constant 0.318687 0.006301 50.57 0.000

Mean 0.90120 0.01782

Number of observations: 122

Residuals: SS = 0.581310 (backforecasts excluded)

MS = 0.004844 DF = 120

Modified Box-Pierce (Ljung-Box) Chi-Square statistic

Lag 12 24 36 48

Chi-Square 7.4 16.3 26.7 40.5

DF 10 22 34 46

P-Value 0.686 0.802 0.808 0.701

Forecasts from period 122

95% Limits

Period Forecast Lower Upper Actual

123 0.91723 0.78078 1.05367

124 0.91156 0.74909 1.07403

125 0.90790 0.73572 1.08007

126 0.90553 0.72945 1.08160