Despite the growth in digital entertainment, the nation's 400 amusement parks have managed to hold on to visitors. A manager collects data on the number of visitors (in millions) to amusement parks in the United States. A portion of the data is shown in the accompanying table.

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B-1, b-2, c-1, and c-2
Despite the growth in digital entertainment, the nation's 400 amusement parks
have managed to hold on to visitors. A manager collects data on the number of
visitors (in millions) to amusement parks in the United States. A portion of the data
is shown in the accompanying table.
Year
Visitors
2000
312
315
2001
2007
345
SOURCE: International Association of Amusement Parks and Attractions.
picture Click here for the Excel Data File
b-1. Estimate a linear trend model and an exponential trend model for the sample.
(Round your answers to 2 decimal places.)
Variable
Linear Trend
Exponential Trend
Intercept
b-2. Calculate the MSE for both trends. (Do not round estimates ot
intermediate calculations. Round final answers to 2 decimal places.)
Linear Trend
Exponential Trend
MSE
b-3. By comparing MSE, which of the above methods perform better?
O Linear trend
OExponential trend
c-1. Using the model of best fit, make a forecast for visitors to amusement parks
in 2008. (Do not round estimates or intermediate calculations. Round your
answer to 1 decimal place.)
million visitors
c-2. Using the model of best fit, make a forecast for visitors to amusement parks
in 2009. (Do not round estimates or intermediate calculations. Round your
answer to 1 decimal place.)
million visitors
Transcribed Image Text:Despite the growth in digital entertainment, the nation's 400 amusement parks have managed to hold on to visitors. A manager collects data on the number of visitors (in millions) to amusement parks in the United States. A portion of the data is shown in the accompanying table. Year Visitors 2000 312 315 2001 2007 345 SOURCE: International Association of Amusement Parks and Attractions. picture Click here for the Excel Data File b-1. Estimate a linear trend model and an exponential trend model for the sample. (Round your answers to 2 decimal places.) Variable Linear Trend Exponential Trend Intercept b-2. Calculate the MSE for both trends. (Do not round estimates ot intermediate calculations. Round final answers to 2 decimal places.) Linear Trend Exponential Trend MSE b-3. By comparing MSE, which of the above methods perform better? O Linear trend OExponential trend c-1. Using the model of best fit, make a forecast for visitors to amusement parks in 2008. (Do not round estimates or intermediate calculations. Round your answer to 1 decimal place.) million visitors c-2. Using the model of best fit, make a forecast for visitors to amusement parks in 2009. (Do not round estimates or intermediate calculations. Round your answer to 1 decimal place.) million visitors
Year
Visitors
2000
312
2001
315
2002
364
2003
370
2004
332
2005
314
2006
355
2007
345
Transcribed Image Text:Year Visitors 2000 312 2001 315 2002 364 2003 370 2004 332 2005 314 2006 355 2007 345
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