Perform an analysis of the sales data for the Vintage Restaurant.
Prepare a report for Karen that summarizes your findings, forecasts, and recommendations. Include:
a. A graph of the time series.
b. An analysis of the seasonality of the data. Indicate the seasonal indexes for each month, and comment on the high and low seasonal sales months. Do the seasonal indexes make intuitive sense? Discuss.
c. A forecast of sales for January through December of the fourth year.
d. Recommendations as to when the system that you have developed should be updated to account for new sales data.
e. Any detailed calculations of your analysis in the appendix of your report.
f. Assume that January sales for the fourth year turn out to be $295,000. What was your forecast error? If this is a large error, Karen may be puzzled about the difference between your forecast and the actual sales value. What can you do to resolve her uncertainty in the forecasting procedure?
We need you to clarify your question for our tutors! Clarification request: Dear Student, I am unable... View the full answer
Recently Asked Questions
- What is the time value of money? Explain the relationship of discounting and compounding. Provide an example of how these concepts might take on importance in
- I need help with my microbiology midterm paper! these are the instructions! "Some scientists are concerned that genetic engineering allows humans to tamper
- please highlight the portuguese congest of the african states and give every step in the stating.please make sure there is no plagarism at all.