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A restaurant forecasts $700,000 in food sales for a year and wants to run a food cost percent of 32%. What should the budget for food cost in dollars be? Only typed Answer

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter11: Linear Optimization Models

Section: Chapter Questions

Problem 2P: The Sea Wharf Restaurant would like to determine the best way to allocate a monthly advertising...

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A restaurant forecasts $700,000 in food sales for a year and wants to run a food cost percent of 32%.

What should the budget for food cost in dollars be?

Only typed Answer

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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