3.(20 points) The manager of the Hospitality Inn has developed regression analysis equations for forecasting the...
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3.(20 points) The manager of the Hospitality Inn has developed regression analysis equations for forecasting the hotel's dining room sales volume based on the hotel's anticipated guest-night count. The monthly equations (where Y equals the forecast number of meals to be served, and X equals the number of hotel guests) follow: Breakfast Y= 500 + 0.75 X Lunch Y= 600 + 1.25 X Dinner Y= 1000 + 0.8 X The hotel has 150 rooms. Its occupancy in June is expected to be 80% and its double occupancy rate is 60%. The average meal checks follow: Breakfast $ 7.25 $12.45 Dinner $17.00 Lunch a. Calculate the dining room's forecasted numbers of meal sales for each period. b. calculate total revenue dollars, for the month of June. 3.(20 points) The manager of the Hospitality Inn has developed regression analysis equations for forecasting the hotel's dining room sales volume based on the hotel's anticipated guest-night count. The monthly equations (where Y equals the forecast number of meals to be served, and X equals the number of hotel guests) follow: Breakfast Y= 500 + 0.75 X Lunch Y= 600 + 1.25 X Dinner Y= 1000 + 0.8 X The hotel has 150 rooms. Its occupancy in June is expected to be 80% and its double occupancy rate is 60%. The average meal checks follow: Breakfast $ 7.25 $12.45 Dinner $17.00 Lunch a. Calculate the dining room's forecasted numbers of meal sales for each period. b. calculate total revenue dollars, for the month of June.
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Related Book For
Hospitality Financial Accounting
ISBN: 978-0470083604
2nd Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.
Posted Date:
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