To better plan for future growth of the restaurant, Karen needs to develop a system that will enable her to forecast food and beverage sales by month for up to one year in advance. Table shows the value of food and beverage sales ($1000s) for the first three years of operation. Food and Beverage Sales for the Vintage Restaurant ($1000s) Month First Year Second Year Third Year January 242 263 282 February 235 238 255 March 232 247 265 April 178 193 205 May 184 193 210 June 140 149 160 July 145 157 166 August 152 161 174 September 110 122 126 October 130 130 148 November 152 167 173 December 206 230 235 Managerial Report Perform an analysis of the sales data for the Vintage Restaurant. Prepare a report for Karen that summarizes your findings, forecasts, and recommendations. Include the following: A time series plot. Comment on the underlying pattern in the time series. Using the dummy variable approach, forecast sales for January through December of the fourth year.
To better plan for future growth of the restaurant, Karen needs to develop a system that will enable her to forecast food and beverage sales by month for up to one year in advance. Table shows the value of food and beverage sales ($1000s) for the first three years of operation. Food and Beverage Sales for the Vintage Restaurant ($1000s) Month First Year Second Year Third Year January 242 263 282 February 235 238 255 March 232 247 265 April 178 193 205 May 184 193 210 June 140 149 160 July 145 157 166 August 152 161 174 September 110 122 126 October 130 130 148 November 152 167 173 December 206 230 235 Managerial Report Perform an analysis of the sales data for the Vintage Restaurant. Prepare a report for Karen that summarizes your findings, forecasts, and recommendations. Include the following: A time series plot. Comment on the underlying pattern in the time series. Using the dummy variable approach, forecast sales for January through December of the fourth year.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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To better plan for future growth of the restaurant, Karen needs to develop a system that will enable her to
| Food and Beverage Sales for the Vintage Restaurant ($1000s) | |||||
| Month | First Year | Second Year | Third Year | ||
| January | 242 | 263 | 282 | ||
| February | 235 | 238 | 255 | ||
| March | 232 | 247 | 265 | ||
| April | 178 | 193 | 205 | ||
| May | 184 | 193 | 210 | ||
| June | 140 | 149 | 160 | ||
| July | 145 | 157 | 166 | ||
| August | 152 | 161 | 174 | ||
| September | 110 | 122 | 126 | ||
| October | 130 | 130 | 148 | ||
| November | 152 | 167 | 173 | ||
| December | 206 | 230 | 235 |
Managerial Report
Perform an analysis of the sales data for the Vintage Restaurant. Prepare a report for Karen that summarizes your findings, forecasts, and recommendations. Include the following:
-
A time series plot. Comment on the underlying pattern in the time series.
-
Using the dummy variable approach, forecast sales for January through December of the fourth year.
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