Question: please assist me with question 5 1. Project Definition Developing a business forecasting provides management with strategic and operational insight leading to improve business performance.

 please assist me with question 5 1. Project Definition Developing a

business forecasting provides management with strategic and operational insight leading to improve

please assist me with question 5

1. Project Definition Developing a business forecasting provides management with strategic and operational insight leading to improve business performance. It is the basis of budgeting and provides the information that allows managers to manage. Without a business forecast a business has limited capacity to maximize future opportunities or minimize potential risk. The purpose of this project is to give you an opportunity to make use of time series forecasting methods to inference about future performance. 2. Case study: Forecasting Food and Beverage Sales for Buzbey Restaurant The Buzbey restaurant is in Saldanha, a resort community near Langebaan, Westcoast. The restaurant, which is owned and operated by Mrs Azola Nkota, has just completed its third year of operations management course. During that time, Mrs Nkota has sought to establish a reputation for the restaurant as a high-quality dining establishment that specialises in fresh seafood. The efforts by Mrs Nkota and her staff have proven successful, and her restaurant has become one of the best and fastestgrowing restaurants on the Westcoast. Mrs Azola Nkota has concluded that to plan for the growth of the restaurant, to improve the demand for the customers, to allow an efficient scheduling and inventory management throughout the entire operations management chain in the future, forecasting is essential. There is sufficient reliable quantitative information and Mrs Nkota wants to develop a system based on quantitative forecasting method that will enable her to forecast food and beverage sales by month for up to one year in advance. Mrs Azola Nkota has the following data (R1000s) on total food and beverage sales for the three years of operation: 5. In which period will the Buzbey restaurant's sales reach \\( R 1,944,138.00 \\) ? 6. Compute the forecasting percentage error using MAPE. (20)

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