Sales Forecast for the Vintage Restaurant (Essay Sample)
Given the sales statistics for the vintage restaurant, the writer is required to forecast the annual sales for the vintage restaurant and provide the necessary recommendations that will result in accurate accounting. The report analysis examines the current and future sales data for The Vintage Restaurant. The sales were analyzed using a dummy variable approach, and forecasts arrived through various calculations.source..
Sales Forecast for The vintage Restaurant.
This report analysis examines the current and future sales data for The Vintage Restaurant. The sales were analyzed using a dummy variable approach, and forecasts arrived through various calculations. The sales data suggest a seasonal trend where sales were highest during the beginning of the year when there is the availability of seafood due to good weather and fishing conditions, and lowest in the middle of the year, when there is scarce seafood availability due to harsh weather conditions. However, sales and returns of the restaurant are relatively productive on a monthly and annual basis. The Vintage restaurant system ought to be updated every month since recent data is recommended to be the most accurate when forecasting sales.
The graph below represents a time series of the food and beverage sales for Vintage Restaurant($1000)
Forecast sales for January through December of the fourth year.
Assuming sales for January the fourth year are $295,000. The forecast error would be:
Sales in January
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