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ISDS 361B Term Project: Forecasting Sales The Karrie Restaurant is located in Portland Oregon. The restaurant has just completed its third year of operation. During this time, the owner sought to establish a reputation for the restaurant as a high quality during the establishment that specializes in fresh seafood. The efforts made by the owner and her staff have proven successful, and her restaurant has become one of the best and fastest-growing restaurants. The owner has 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. Owner has the following data on total food and beverage sales for the 3 years of operation. Food and Beverage Sales for the Karrie Restaurant ($1000) Month January February March May June July August September October November December First Year 242 235 232 178 184 140 145 152 110 130 152 206 Second Year 263 238 247 193 193 149 157 161 122 130 167 230 Third Year 282 255 265 205 210 160 166 174 126 148 173 235 4. Is the Best Model produces in-control forecast errors? Perform the test and discuss the results. 5. Use the Best Model to forecast sales for January of the 4th year. how transcribed image text ISDS 361B Term Project: Forecasting Sales The Karrie Restaurant is located in Portland Oregon. The restaurant has just completed its third year of operation. During this time, the owner sought to establish a reputation for the restaurant as a high quality during the establishment that specializes in fresh seafood. The efforts made by the owner and her staff have proven successful, and her restaurant has become one of the best and fastest-growing restaurants. The owner has 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. Owner has the following data on total food and beverage sales for the 3 years of operation. Food and Beverage Sales for the Karrie Restaurant ($1000) Month January February March May June July August September October November December First Year 242 235 232 178 184 140 145 152 110 130 152 206 Second Year 263 238 247 193 193 149 157 161 122 130 167 230 Third Year 282 255 265 205 210 160 166 174 126 148 173 235 4. Is the Best Model produces in-control forecast errors? Perform the test and discuss the results. 5. Use the Best Model to forecast sales for January of the 4th year. how transcribed image text