Food-and-Beverage-Sales-for-Jimmys-Greek-Restaurant-questions-economics-help
(TCO 3) Use the table “Food and Beverage Sales for Jimmy’s Greek Restaurant†to answer the questions below.
|
Food and Beverage Sales for Jimmy’s Greek Restaurant ($000s) |
||
|
Month |
First Year |
Second Year |
|
January |
242 |
263 |
|
February |
235 |
238 |
|
March |
232 |
247 |
|
April |
278 |
193 |
|
May |
284 |
193 |
|
June |
240 |
149 |
|
July |
145 |
157 |
|
August |
152 |
161 |
|
September |
110 |
122 |
|
October |
130 |
130 |
|
November |
152 |
167 |
|
December |
236 |
231 |
Part (a) Calculate the regression line and forecast sales for January of Year 3.
Part (b) Calculate the seasonal forecast of sales for January of Year 3.
Part (c) Which forecast do you think is most accurate and why?
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