# Vintage Essay

588 Words Jun 12th, 2015 3 Pages
Case Problem: 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 by 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 …show more content…
The regression equation is given as: y = 146.5x + 1958.7
For the fourth year, the total sales are obtained by plugging in x = 4 in the above equation.
[pic](in thousands of dollars)
The average monthly sales during the fourth year, therefore, is 2544.7/12 = 212.058 (in thousands of dollars).
The forecast for a particular month (say July) is calculated by multiplying the average monthly sales forecast by that month’s (July’s) seasonal index. For the month of July, it will be 0.831*212.058 = 176.22 (in thousands of dollars).
The monthly forecasts for the 12 months of the fourth year are as shown below:
Month (yr.4) |January |February |March |April |May |June |July |August |September |October |November |December | |S. Index |1.398 |1.293 |1.322 |1.023 |1.043 |0.798 |0.831 |0.865 |0.636 |0.725 |0.874 |1.192 | |Forecast |296.45755 |274.19143 |280.3411 |216.9357 |221.1768 |169.2226 |176.2205 |183.4305 |134.8691 |153.7423 |185.339 |252.7735 | |
Suppose the actual January sales for the fourth year turn out to be \$295,000. The forecasted January sales are \$296,458.
Error between actual and forecasted sales = \$296,458 - \$295,000 = \$1458
Percentage Error = [pic]
This is an extremely small percentage error. Karen does not have to worry about this error and she can be assured that her forecast model is extremely

## Related Documents

• ###### Essay on Taragon

Taiwan, Philippines, Thailand and even in Australia) Pandan gives white bread, jasmine rice and basmati rice (as well as bread flowers Vallaris glabra) their typical smell(native of Asia) Reaction Paper The Geography exhibit showcased some vintage stuff like the old telephone, a lamp that looks like a globe, and the different pasalubongs, both locally and internationally made. We find it amazing how you could touch and somehow have a taste of a different place by just having a little keychain…

Words: 1361 - Pages: 6
• ###### Essay on CASH FLOW POLUUTER CORP

pollution, but until then it will need more EA’s in order to avoid penalties, Polluter buys extra EA’s for 2012 from Clear Air Corp for \$3 million. In an effort to offset the cost of the April 2, 2010 purchase of 2012 Eas, the company sold Eas with a vintage year of 2016 to Dirty Chemical Corp for \$2 million. Answer Required: 1. What is the appropriate classification in the statement of cash flows in the company’s December 31, 2010, financial statements for its purchase of 2012 EAs from Clean Air Corp…

Words: 1156 - Pages: 5
• ###### p5- m3 unit 9 design a promotional campagin for a given product service

they have expensive prices for their product. People who like vintage clothes and wants to look like celebrities would be Pop Boutique’s customers. Target audience would be age 16 to 40 these includes teenagers because young people prefer to wear expensive, unique and fashionable clothes and also pop boutique has good brand loyalty, that’s why customers prefer to buy clothes from there. Furthermore many celebrities also like to wear vintage, funky and colourful clothes it is also beneficial to target…

Words: 3622 - Pages: 15
• ###### Cafe Essay

decorated in Vintage theme by using brown color in the main part, decorating various cups on the wall and providing many pictures and posters as well. Cups and posters can make café interesting. A vintage theme is quite suitable for this café for many reasons. Firstly, there is lack of vintage theme in café in York city because most of café in York are traditional style. Cervellon, Carey and Harms (2012) states that most customers seem to like a unique style. They also claim that vintage have been a…

Words: 1619 - Pages: 7
• ###### Essay on Credit Risk Modelling

. . . . . . . . . . . . . . . . . . . . . . . . Technical Proofs . . . . . . . . . . . . . . . . . . . . . . . . . 45 46 48 48 51 58 58 60 65 67 68 69 73 74 78 80 82 86 88 88 93 94 95 97 104 104 109 111 112 114 116 119 119 124 129 130 III. Vintage Data Analysis . . . . . . . . . . . . . . . . . . . . . . . . 3.1 3.2 3.3 Introduction . . . . . . . . . . . . . . . . . . MEV Decomposition Framework . . . . . . . Gaussian Process Models . . . . . . . . . . . 3.3.1 Covariance Kernels . . . . .…

Words: 38375 - Pages: 154
• ###### Essay about Polluter Corp

operates three manufacturing facilities in the United States. The Company manufactures various household cleaning products at each facility, which are sold to retail customers. The U.S. government granted the Company emission allowances (EAs) of varying vintage years (i.e., the years in which the allowance may be used) to be used between 2010 and 2030. Upon receipt of the EAs, the Company recorded the EAs as intangible assets with a cost basis of zero, in accordance with the Federal Energy Regulatory Commission…

Words: 618 - Pages: 3
• ###### Vintage Essay

Case Problem: 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 by Karen and her staff have proven successful, and her restaurant has become one of the best and fastest-growing restaurants…

Words: 588 - Pages: 3
• ###### Advice for Selecting Vintage Bathroom Accessories Essay

Vintage bathroom accessories have been highlighted in a variety of magazines and other publications in recent years. In light of their increasing popularity, it is important to know what to look for and have some ideas of what are the best vintage and vintage-styled accessories available for your home's bathroom. By understanding just what to look for and having an idea of which vintage accessories are well suited to a home, you will be prepared to sift through everything the market has to offer…

Words: 543 - Pages: 3
• ###### Polluter Essay

greenhouse emission. The major companies that are responsible for high green house gas emission are granted emission allowances of varying usage years. The emission allowances lay a cap on the amount of green house gas emitted by a company within the vintage year (Kollmuss & Lazarus 131). Emission allowances are fungible, and, therefore, entities may transact them; entities may chose to sell or buy emission allowances from other entities. The transactions are guided by accounting principles set governing…

Words: 1161 - Pages: 5
• ###### Characterization of Edward in on Chesil Beach, Ian Mc Ewan Essay examples

in 1958 for three years to earn a degree in history, which he mastered easily. This emphasises his intelligence and his interest in history. His activities 1 McEwan, Ian; On Chesil Beach, 2007, Vintage, p. 63 2 McEwan, Ian; On Chesil Beach, 2007, Vintage, p. 65 3 McEwan, Ian; On Chesil Beach, 2007, Vintage, p. 72 5 during his studies typically included working, playing football and spending his evenings in pubs and clubs where he drinks beer with his friends, especially listening to rock 'n' roll…

Words: 663 - Pages: 3