Forecast the number of meals for each day of Week 6, using the five-week moving average method. 2) Forecast the number of meals for each day of Week 6, using the three-week moving average method. 3) Comment on the difference in the results of 1) and 2). 4) If the actual number of Week 6 are as forecasted, except Friday is 412, using five-week moving average to forecast for Week 7. Problem 5:
At the César Ritz Hotel Management School, Chef Ours is in charge of ordering food provisions and scheduling labor. The weekly sales forecast is based on a three-week moving average , that is, Monday’s forecast is based on the average sales of the prior three Mondays . The forecast is modified based on a number of factors, including weather: - the sales are expected to increase moderately as the year progresses into cooler weather and vice versa. - rainy days result in significant increases in sales The sales for Week 2 through 4 were as follows: Week 2 3 4 5 Monday $450 $460 475 551.67 Tuesday 420 435 440 451.67 Wednesday 440 438 520(450) 462.67 Thursday 430 445 450 461.67 Friday 410 420 435 441.67 To prepare the weekly sales forecast, Chef Ours uses not only three-week moving average method, but also a modification of $20 for expected weather changes. In addition, if a rainy day is expected, an increase of $70 of sales is expected. Required: 1) What type of weather trend do the above figures suggest? Explain. 2) Which day did it appear to rain? Week 4 Wednesday 3) Based on your answer is 1), assist Chef Ours to prepare the sales forecast for Week 5.
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- Spring '20
- Self number, 496, Week-day names, Chef Ours