A local restaurant has sought your assistance as a consultant. The restaurant has daily revenue data available for the past three years. The restaurant is closed for Thanksgiving, one week in December, and one week in January. A local special event is occurring next year that will draw a significant amount of tourism to the area. The restaurant is expecting an increase in business by 15%. In addition, local professional sports teams are performing well, contributing to an increased sales forecast of 5%. The most recent year sales are $865,000 per year. Sales for the last three years, from most recent to least recent, were $886,000 (year 3), $875,000 (year 2), and $925,000 (year 1). The restaurant seeks an accurate forecast, as it cannot afford to make a mistake in labor and food budgets.

Make an effective sales forecast for the restaurant for next year using the information provided. Explain your approach.

When selecting peer discussion posts to respond to, choose a post that suggested a different measure from your own. 

Answer rating: 100% (QA)

To make an effective sales forecast for the restaurant for next year I would use a combination of we... View the full answer