Here is the transcription and explanation of the content from the provided image, suitable for an educational website:---### Monthly Price of Apples - Analysis**Objective:**- **a)** Calculate a 2-point moving average of the year.- **b)** Use it to predict the value for January of the next year.#### Data Table| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec ||-------|------|------|------|------|------|------|------|------|------|------|------|------|| Price | 0.947| 0.987| 0.929| 0.969| 1.031| 1.032| 1.131| 1.265| 1.251| 1.153| 1.118| 1.028|#### Task a) Calculate the 2-point Moving Average**Template for Calculation:**| Month | Jan | Feb | Mar | Apr | May | Jun ||-------|-----|-----|-----|-----|-----|-----|| Price | . | | | | | || Month | Jul | Aug | Sep | Oct | Nov | Dec ||-------|-----|-----|-----|-----|-----|-----|| Price | | | | | | |*Round to four decimal places as needed.*---#### Graph ExplanationThe graph, located in the upper-right corner, displays a line plot representing the price of apples over a year. - **X-axis (Time):** Month names from January to December.- **Y-axis (Apples):** Price of apples ranging approximately from 0.9 to 1.3.- **Description:** - There is a fluctuation in prices with a noticeable increase during mid-year, reaching its peak around July or August. - A subsequent decline is observed towards December.**Purpose:** The graph visually complements the data table, allowing for a quick understanding of trends in apple pricing throughout the year.By using the 2-point moving average, one can smooth out these monthly fluctuations to better identify trends and predict future prices.--- This breakdown aids learners in understanding how to perform moving averages and the significance of graphical data representation.

The given time series data of the price for the corresponding month is as follows:MonthPriceJan0.947Feb0.987Mar0.929Apr0.969May1.031Jun1.032Jul1.131Aug1.265Sep1.251Oct1.153Nov1.118Dec1.028Considering the average price, in this case, is a good estimator of the future price (which is given as a monthly period), the forecasted sales for the period t using a n-month moving average is formulated as follows:Ft=At−1+At−2+...+At−nnHere, Ai (i=1,2,...t) is the actual price for the month i.Part (a)The calculation of the two-point (i.e., n=2) moving average of the price value is as follows:MonthPrice2-points moving total2-points moving averageJan0.947Feb0.987Mar0.9291.934 (=0.947+0.987)0.967 (=1.9342)Apr0.9691.916 (=0.987+0.929)0.958 (=1.9162)May1.0311.898 (=0.929+0.969)0.949 (=1.8982)Jun1.03221Jul1.1312.0631.0315Aug1.2652.1631.0815Sep1.2512.3961.198Oct1.1532.5161.258Nov1.1182.4041.202Dec1.0282.2711.1355Part (b)In order to predict the price for January next year using 2-points moving average, the average price of the lat two months prior to January is to be considered, i.e.,FJan. next year=Price for current Dec.+Price for current Nov.2=1.118+1.0282=1.073(a) The two-point moving average of the price value is as follows:MonthPriceJanFebMar0.9670Apr0.9580May0.9490Jun1.0000Jul1.0315Aug1.0815Sep1.1980Oct1.2580Nov1.2020Dec1.1355(b) The estimated price for next January is 1.073.