Question
Inspired by the recent news on CNA Instant noodle makers ask Thailand for price hike after 14-year peg, you want to research the price of
Inspired by the recent news on CNA Instant noodle makers ask Thailand for price hike after 14-year peg, you want to research the price of instant noodles in Singapore. The price of instant noodles (per 5 packets) is shown in BUS107_GBA_input.xlsx. (The file can be downloaded from Canvas, next to this GBA question paper.) The file shows the monthly average retail prices of selected consumer items, including instant noodles, from 2010 Jan to 2022 Aug. Please use relevant data in the file to answer the following questions. (a) Comment on the underlying pattern in the price of instant noodles over 2010 Jan 2022 Aug. Please limit the answer to within one page. (15 marks) (b) Use a suitable method to forecast the price of instant noodles for each month during 2022 Sep 2023 Jun. Please limit the answer to within two (2) pages.
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