Estimation and Prediction of Gasoline Price in Mexico from Evans Price Adjustment Model

Abstract

This work adds to the mathematical proposition, which is aligned to the vision of the educational model at Tecnologico de Monterrey. It is a part of a set of situations that have been prepared to cover the mathematical training of students, these have been tested successfully at Campus State of Mexico. All these challenges have the same philosophy: propose situations of real context whose answers could be interesting by any sector of society. The controversy among economic specialists inspired the present challenge; at the beginning of 2018, they were deciding the possibility that Magna gasoline could reach an average price of 20 pesos in Mexico. This situation was proposed to the students of the second semester of mathematics at the beginning of 2018, in order to analyze the problem under the model of Evans price adjustment. They had to generate a prediction based on the question of whether gasoline Magna would reach 20 pesos at the end of this year.