Mullen Magic Shows is evaluating attendance at the shows and planning whether to train more magicians. They have the following data:

Year                Total Audience

2013               97130

2014               101326

2015               96956

2016               99816

2017               99694

2018               103762

2019               104958

2020               110988

2021               112157

2022               110370

a) Plot these data, develop a hypothesis of an appropriate model, estimate the model’s parameters, and forecast passengers for 2023-2025.

b) Illustrate an exponential smoothing model using an alpha of .1 and then an alpha of .5.

c) In doing some analysis, they assume each show has about 500 attendees. Each magician they hire can work up to 50 shows a year and is paid $1500 per show up to 50 shows. Recently, magicians complained that they are under contract for 50 shows but only paid for shows they work. If each magician is paid $500 per show she/he does not work, what does this policy cost per year?