Despite the growth in digital entertainm ent, the nation's 400 amusement parks have managed to hold on

Question:

Despite the growth in digital entertainm ent, the nation's 400 amusement parks have managed to hold on to visitors, as the following data show:

Year Visitors (in millions)

2000 317 2001 319 2002 324 2003 322 2004 328 2005 335 2006 335 2007 341 SOURCE: International Association of Amusement Parks and Attractions.

a. Plot the series. Does the linear trend model or the exponential trend model fit the series best?

b. Estimate both models. Verify your answer in part a by comparing the MSE of the models.

c. Given the model of best fit, make a forecast for visitors to amusement parks in 2008 and 2009.

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