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.
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Sales Forecast for The vintage Restaurant.
Student Name
Business Class
Tutor
Date
Abstract
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.
Question 1
The graph below represents a time series of the food and beverage sales for Vintage Restaurant($1000)
-47625092392500
Question 2
Forecast sales for January through December of the fourth year.
Month
t
Seasonal
Index
Y
Forecast
Forecast ($1000s)
Jan
37
1.443
207.1396
298.902443
298902.443
Feb
38
1.29915
208.161
270.432363
270432.363
Mar
39
1.34355
209.1824
281.047014
281047.014
Apr
40
1.04075
210.2038
218.769605
218769.605
May
41
1.04895
211.2252
221.564674
221564.674
Jun
42
0.80005
212.2466
169.807892
169807.892
Jul
43
0.82795
213.268
176.575241
176575.241
Aug
44
0.8526
214.2894
182.703142
182703.142
Sep
45
0.6277
215.3108
135.150589
135150.589
Oct
46
0.7
216.3322
151.43254
151432.54
Nov
47
0.8524
217.3536
185.272209
185272.209
Dec
48
1.15875
218.375
253.042031
253042.031
Question 3
Assuming sales for January the fourth year are $295,000. The forecast error would be:
Sales in January
Forecasted sales
$298,902
Actual sales
$295
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