Despite the growth in digital entertainment, the nations 400 amusement parks have managed to hold on to visitors, as the following data show:

YearVisitors

(in millions)20003302001353200234820033582004370200532120063182007331

Click here for the Excel Data File

For estimation, let the variable t assume values 1, 2,, 8.

b-1.Estimate a linear trend model and an exponential trend model for the sample. (Negative values should be indicated by a minus sign. Round your answers to 4 decimal places.)

VariableLinear TrendExponential TrendIntercept

t

s_e

b-2.Calculate the MSE for both trends. (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Linear TrendExponential TrendMSE

b-3.By comparing MSE, which of the above methods perform better?

Linear trendExponential trend

c-1.Using the exponential trend model, make a forecast for visitors to amusement parks in 2008. (Round your intermediate calculations to 4 decimal places. Enter your answer in millions rounded to 1 decimal place.)

million visitors

c-2.Using the exponential trend model, make a forecast for visitors to amusement parks in 2009. (Round your intermediate calculations to 4 decimal places. Enter your answer in millions rounded to 1 decimal place.)

million visitorsrev: 11_16_2015_QC_CS-31836, 12_19_2015_QC_CS-33775, 11_04_2016_QC_CS-68396

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