The following sales revenue pattern for a British trading concern was cited earlier in the chapter:
| 2009 Don't use plagiarized sources. Get Your Custom Essay on compare the year to year percentage changes in sales revenues in pounds and in u s d 543855 For $10/Page 0nly | 2010 | 2011 | |
| Sales revenue | £23,500 | £28,650 | £33,160 |
Required:
a: Perform a convenience translation into U.S. dollars for each year given the following year-end exchange rates:
| 2009 | £1 = $2.10 |
| 2010 | £1 = $2.20 |
| 2011 | £1 = $1.60 |
b. Compare the year-to-year percentage changes in sales revenues in pounds and in U.S. dollars. Do the two time series move in parallel fashion? Why or why not?
c. Suggest a method for minimizing the effect of exchange rate changes on foreign currency trend data.
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