Question: RU Hungrys General Manager is performing some longer range planning and is interested to know what the forecasted demand will be over the next one

RU Hungrys General Manager is performing some longer range planning and is interested to know what the forecasted demand will be over the next one year time horizon. Using simple linear regression as your forecasting technique, please provide your demand forecast for periods 18, 19, 20 and 21.

RUHungry Banquet Hall Guests Served by quarter since January 2017.

Calendar Year

Quarter

Period #

Guests Served

2017

1

1

3,500

2

2

8,300

3

3

5,400

4

4

9,050

2018

1

5

4,300

2

6

5,800

3

7

3,300

4

8

5,800

2019

1

9

5,200

2

10

9,300

3

11

7,700

4

12

15,300

2020

1

13

13,500

2

14

17,500

3

15

12,800

4

16

18,300

2021

1

17

13,600

2022

2

3

4

1

18

19

20

21

????

????

????

????

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!