Case Analysis: Forecasting Food and Beverage Sales

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CASE ANALYSIS:

FORECASTING FOOD AND BEVERAGE SALES

Suzanne Michelle Gager

QNT 531: Advanced Problems in Statistics and Research Methods

Terrance C. Feravich

March 20, 2006

Case Analysis: Forecasting Food and Beverage Sales

Problem Definition

The Vintage Restaurant is on Captiva Island, a resort community near Fort Myers, Florida. The restaurant, which is owned and operated by Karen Payne, has just completed its third year of operation. During that time, Karen has sought to establish a reputation for the restaurant as a high-quality dining establishment that specializes in fresh seafood. The efforts of Karen and her staff have proven successful, and her restaurant has become one of the best and fastest-growing restaurants on the island. Karen has concluded that to plan 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 has the following data ($1000s) on total food and beverage sales for the three years of operation.

Lost Beverage and Food Sales Case

Vintage Restaurant Sales

MONTH

First Year