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Part III. Data Mining 1. Calculate the intra-industry trade index for ENGINES, TURBINES & POWER TRANSMSN EQUIP (NAICS -3336), RUBBER PRODUCTS (NAICS - 3262), APPAREL(NAICS

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Part III. Data Mining 1. Calculate the intra-industry trade index for ENGINES, TURBINES & POWER TRANSMSN EQUIP (NAICS -3336), RUBBER PRODUCTS (NAICS - 3262), APPAREL(NAICS - 3152), and PHARMACEUTICALS & MEDICINES (NAICS - 3254) in 2019. To obtain the export and import values, access the U. S. TradeStats Express Web site (http://tse.export.gov/TSE/). Click on "National Trade Data" then "Global Patterns of U. S. Merchandise Trade." Change item: NAICS - TOTAL and find each assigned industry by using Product Code tab. Click Update and change the display year from 2019 to 2019. You may need to collect both export and import data in 2019 separately and keep the data in Excel spreadsheet for calculation. a. Among Engines, Rubbers, Apparel, and Medicines, which product do you expect U.S. to have a higher index of intra-industry trade? Why? b. Calculate the intra-industry trade index for each product in 2019 using the formula (index of intra-industry trade) = Minimum of imports and exports (Imports + exports) Does your calculation confirm your expectation? If your answers did not confirm your expectation, explain

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