Instructor isn't very much help...

1. Based on the actual data you have, calculate the expected CPI-U for a) June, 2023; b) December, 2023; and c) June, 2024. Based on current economic data, do you think that actual CPI-U values will exceed or fall below your calculated values? Why? What do the experts expect the value to be?

2. Assume that the average accountant salary on June 30, 2022 was $62,500. What do you expect the average salary to be on December 31, 2022? June 30, 2023? (Hint: First calculate the percentage cost change for the period 1st and 2nd 6-month period for each of the previous years [2nd 6-months for December, 1st 6-months for June]. Second, take the average of each set of calculations to create an average percent cost change. Traditionally, having more historical data results in better estimates of future performance. Based on your answer to #2, how confident do you feel in the CPI-U average percent cost change for this 5 year period?)

3. Calculate the estimated average salary for accountants effective June 30, 2024 based on the the CPI-U data provided from January, 2019 - February, 2023 and your projected CPI change calculated in #2.

4. Calculate the estimated average salary for accountants effective June 30, 2024 based on the the CPI-U data provided from January, 2019 - February, 2023 and the expert expected value for 2023 and 2024.

Label	Observation Value		Label	Observation Value
2018 Jan	248.859		2020 Nov	260.813
2018 Feb	249.529		2020 Dec	262.035
2018 Mar	249.577		2021 Jan	262.650
2018 Apr	250.227		2021 Feb	263.638
2018 May	250.792		2021 Mar	264.914
2018 Jun	251.018		2021 Apr	266.670
2018 Jul	251.214		2021 May	268.444
2018 Aug	251.663		2021 Jun	270.559
2018 Sep	252.182		2021 Jul	271.764
2018 Oct	252.772		2021 Aug	272.870
2018 Nov	252.594		2021 Sep	274.028
2018 Dec	252.767		2021 Oct	276.522
2019 Jan	252.718		2021 Nov	278.711
2019 Feb	253.322		2021 Dec	280.887
2019 Mar	254.202		2022 Jan	282.599
2019 Apr	255.211		2022 Feb	284.610
2019 May	255.290		2022 Mar	287.472
2019 Jun	255.159		2022 Apr	288.611
2019 Jul	255.685		2022 May	291.268
2019 Aug	256.059		2022 Jun	294.728
2019 Sep	256.511		2022 Jul	294.628
2019 Oct	257.244		2022 Aug	295.320
2019 Nov	257.803		2022 Sep	296.539
2019 Dec	258.616		2022 Oct	297.987
2020 Jan	259.037		2022 Nov	298.598
2020 Feb	259.248		2022 Dec	298.990
2020 Mar	258.124		2023 Jan	300.536
2020 Apr	256.092		2023 Feb	301.648
2020 May	255.868
2020 Jun	256.986
2020 Jul	258.278
2020 Aug	259.411
2020 Sep	260.029
2020 Oct	260.286