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The data in the table below show the average spending on recycling for primary schools in South Australia from years 2013 to 2020. Use exponential smoothing with a smoothing coefficient (W) of 0.35 to forecast the average spending on recycling for primary schools in South Australia in 2021.
Year
Average spending ($)
2013
250,000
2014
253,250
2015
293,754
2016
311,568
2017
298,287
2018
314,382
2019
318,474
2020
325,750
2021
?
Prices of four items in years 2016 and 2020 are given in the table below. Calculate the CPI of 2020 with 2016 as the base year for all four items using Laspeyres method.
Item
Price/unit
Quantity
Apples
2.70
15.00
3.26
17.00
Bananas
6.95
8.00
8.27
10.00
Oranges
1.83
25.00
2.44
18.00
Strawberries
1.68
19.00
3.65
24.00
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