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...

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

Extracted 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
SUMMARY OUTPUT<br>Regression Statistics<br>Multiple R<br>0.301997133<br>R Square<br>0.091202269<br>Adjusted R Square -0.06026402<br>Standard Error<br>24.16054931<br>Observations<br>ANOVA<br>df<br>MS<br>Significance F<br>Regression<br>1<br>351.4821429 351.4821429 0.602129157 0.467241916<br>Residual<br>6<br>3502.392857 583.7321429<br>Total<br>7<br>3853.875<br>Coefficients Standard Error<br>t Stat<br>P-value<br>Lower 95%<br>Upper 95%<br>Intercept<br>325.3571429<br>18.82574835 17.28256093 2.40423E-06<br>279.2921961 371.4220896<br>2.892857143<br>3.728053695 0.775969817 0.467241916 -6.229361625 12.01507591<br>Year<br>Visitors<br>2000<br>312<br>2001<br>315<br>2002<br>364<br>2003<br>370<br>2004<br>332<br>2005<br>314<br>2006<br>355<br>2007<br>345<br>

Extracted text: SUMMARY OUTPUT Regression Statistics Multiple R 0.301997133 R Square 0.091202269 Adjusted R Square -0.06026402 Standard Error 24.16054931 Observations ANOVA df MS Significance F Regression 1 351.4821429 351.4821429 0.602129157 0.467241916 Residual 6 3502.392857 583.7321429 Total 7 3853.875 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 325.3571429 18.82574835 17.28256093 2.40423E-06 279.2921961 371.4220896 2.892857143 3.728053695 0.775969817 0.467241916 -6.229361625 12.01507591 Year Visitors 2000 312 2001 315 2002 364 2003 370 2004 332 2005 314 2006 355 2007 345
Jun 09, 2022
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