a certain commodity has long been a popular investment house during times of economic crisis. the data table below shoes the average price for a unit of the commodity between 1990-2010. use the data to complete b-h below.
1990 397
1991 377
1992 364
1993 364
1994 383
1995 385
1996 382
1997 339
1998 378
1999 381
2000 386
2001 376
2002 403
2003 453
2004 513
2005 550
2006 694
2007 768
2008 967
2009 1067
2010 1354
b) forecast the average price of the commodity for 2011 using a trend projection
c.)calculate the mad for this forecast
d.) check for the presence of positive autocorrelation. identify the null and alternative hypotheses.
e.) determine the durbin watson statistic
f) identify the critical values
g) state the conclusion
h) based on these results does the forecasting method seem appropriate for these data?