Question $1$

For this question you first need to download the following price data in monthly frequency: Global price of Orange. If you come across alternative data series for this product$/$material please choose the one with the longest time$-$series and no gaps.

a$)$ Describe your product$/$material$.$ What is its main use? Why do people buy it$?$

b$)$ Describe your data source and why you think it is a reliable source.

c$)$ Provide the full name of your variable and download link for the data.

d$)$ Plot the price level over time.

e$)$ Test if the price level has a significant time trend.

f$)$ Test if the price level has a significant exponential trend.

g$)$ Calculate the monthly growth rate of the price, let's call this as "return series". Provide the summary statistics for return series.

h$)$ Plot the monthly return series over time.

i$)$ Calculate the average return for each calendar month, i$.$e$.$ average return in January, average return in February, etc., and report them. Do you see any pattern?

j$)$ Remove the seasonality from the return series and plot the seasonally adjusted returns together with the original return series in the same graph.

Link to download data: https:$//$fred$.$stlouisfed.org$/$series$/$PORANGUSDM

Please download, perform coding at R$-$studio and R$-$script, and answer questions after you made analysis.