The Table Below Shows the Price of a Commodity for Each

question 57

Short Answer

The table below shows the price of a commodity for each of ten consecutive years. $\begin{array} { l c c c c c c c c c c } \hline \text { Year } & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 & 9 & 10 \\\\ \text { Price } & \$ 1.19 & \$ 1.22 & \$ 1.23 & \$ 1.45 & \$ 1.39 & \$ 1.42 & \$ 1.47 & \$ 1.55 & \$ 1.62 & \$ 1.65 \\\hline\end{array}$

Use exponential smoothing with $w = 0.6$ to forecast the price of the commodity in years 11 and $12 .$

---

Definitions:

Student Protest

A form of collective action undertaken by students to voice their opposition to various issues, often related to educational policies, political issues, or social injustices.

Public Policy

Public policy involves the creation of laws and regulations by organizations and governments.

Balance of Power

is a principle in international relations that aims to maintain stability by preventing any one state from becoming too dominant.

Power Resource Theory

A theory in political science and sociology that argues that the distribution of political power is determined by the distribution of resources within a society.