There are two easy ways to go.
Some people like to export from premiere in DV and import that into encore, and let encore deal with the conversion to mpeg2 dvd. Using auto settings encore will try to fit the media to the disc.
I have found, that if you have many clips and menus in your dvd, encore can get quite clunky and awkward to use when using DV files.
I prefer to export mpeg dvd from the editing software, and import this into encore, even though it is not perfect, it does seem to cope better with mpeg files.
As for the settings for the mpeg conversion, there are plenty of good bitrate calculators on the web, that are accurate and most are freeware.
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