Instruction 14-8
the Number of Cases of Merlot Wine Sold

question 49

Essay

Instruction 14-8
The number of cases of merlot wine sold by a Barossa Valley Winery in an eight-year period follows.
$\begin{array}{cc}\text { Year } & \text { Cases of } \\& \text { Wine } \\2003 & 270 \\2004 & 356 \\2005 & 398 \\2006 & 456 \\2007 & 358 \\2008 & 500 \\2009 & 410 \\2010 & 376\end{array}$

-Referring to Instruction 14-8,construct a centred five-year moving average for the wine sales.

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Definitions:

Expenditures Approach

A method of calculating a country's Gross Domestic Product (GDP) by summing all its spending on final goods and services during a specific period.

Real GDP

The measure of the value of all final goods and services produced within a country in a specified period, adjusted for inflation, reflecting the true economic health of a country.

Inflation

The upward trend in the average pricing of goods and services, narrowing the scope of purchasing capacity.

Economic Well-Being

A measure of how well individuals and societies are doing in terms of income, wealth, and material goods.