"The Vintage Restaurant is located on Captiva Island, a resort community near Fort Myers, Florida. The restaurant, which is owened and operated by Karen Payne, just completed its third year of operation. During this time, Karen sought to establish a reputation for the restaurant as a high-quality dining establishment that specialized in fresh seafood. The efforts made by Karen and her staff proved successful, and her restaurant is currently one of the best and fastest grwoing restaurants on the island. Karen concluded that to plan better for the growth of the restaurant in the future, she needs to develop a system that will enable her to forecast food and beverage sales by month for up to one year in advance. Karen compiled the following data on total food and beverage sales for the three years of operation: Food and Beverage Sales for the Vinatage 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 Peform an analysis of the sales data for the Vinatage Restaurant. 1. A graph of the time series 2. An analysis of the seasonality of the data. Indicate the seasonal indexes for each month, and comment on the high seasonal and low seasonal sales month. Do the seasonal indexes make intuitive sense? 3. Forcast sales for January through December of the fourth year. 4. Recommendations as to when the system that you developed should be updated to account for the new sales data that will occur. 5. Detailed calculations of your analysis in an appendix to your report. "
Paper#10964 | Written in 18-Jul-2015Price : $25