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Fifteen midwestern and mountain states have united in an effort to promote and forecast tourism. One aspect of their work has been related to the

  1. Fifteen midwestern and mountain states have united in an effort to promote and forecast tourism. One aspect of their work has been related to the dollar amount spent per year on domestic travel (DTE) in each state. They have the following estimates for disposable personal income per capita (DPI) and DTE:

    (c4p14) State DPI DTE ($ Millions)
    Minnesota $ 17,907 $ 4,933
    Iowa 15,782 1,766
    Missouri 17,158 4,692
    North Dakota 15,688 628
    South Dakota 15,981 551
    Nebraska 17,416 1,250
    Kansas 17,635 1,729
    Montana 15,128 725
    Idaho 15,974 934
    Wyoming 17,504 778
    Colorado 18,628 4,628
    New Mexico 14,587 1,724
    Arizona 15,921 3,836
    Utah 14,066 1,757
    Nevada 19,781 6,455
    1. From these data, estimate a bivariate linear regression equation for domestic travel expenditures (DTE) as a function of disposable income per capita (DPI):

      DTE = a + b(DPI)

      DTE = ________ +/ ________(DPI)

      (Circle + or as appropriate)

      Evaluate the statistical significance of this model.

    2. Illinois, a bordering state, has asked that this model be used to forecast DTE for Illinois under the assumption that DPI will be $19,648.

    3. Given that actual DTE turned out to be $7,754 (million), calculate the percentage error in your forecast.

Please post steps using Excel or Forecast X so I can figure out what I doing wrong

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