The manager of the Hospitality Inn has developed regression analysis equations for forecasting the hotel's dining room sales volume based on the hotel's anticipated guest-night count. The monthly equations (where Y equals the forecast number of meals to be served, and X equals the number of hotel guests) follow: Breakfast Lunch Dinner Y = 750+ 0.82 X Y = 900 + 1.15 X Y = 1,200+ 0.42 X The hotel has 100 rooms. Its occupancy in November is expected to be 70% and its double occupancy rate is 40%. The average meal checks follow: Breakfast Lunch Dinner $5.25 $10.24 $15.78 Calculate the dining room's forecast meal period sales, both in number of guests and sales revenue dollars, for the month of November.
The manager of the Hospitality Inn has developed regression analysis equations for forecasting the hotel's dining room sales volume based on the hotel's anticipated guest-night count. The monthly equations (where Y equals the forecast number of meals to be served, and X equals the number of hotel guests) follow: Breakfast Lunch Dinner Y = 750+ 0.82 X Y = 900 + 1.15 X Y = 1,200+ 0.42 X The hotel has 100 rooms. Its occupancy in November is expected to be 70% and its double occupancy rate is 40%. The average meal checks follow: Breakfast Lunch Dinner $5.25 $10.24 $15.78 Calculate the dining room's forecast meal period sales, both in number of guests and sales revenue dollars, for the month of November.
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter8: Time Series Analysis And_forecasting
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Problem 11P: For the Hawkins Company, the monthly percentages of all shipments received on time over the past 12...
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Transcribed Image Text:P9.13 The manager of the Hospitality Inn has developed regression analysis
equations for forecasting the hotel's dining room sales volume based on
the hotel's anticipated guest-night count. The monthly equations (where
Y equals the forecast number of meals to be served, and X equals the
number of hotel guests) follow:
Breakfast
Lunch
Dinner
Y = 750+ 0.82 X
Y = 900 + 1.15 X
Y = 1,200+ 0.42 X
The hotel has 100 rooms. Its occupancy in November is expected to be
70% and its double occupancy rate is 40%.
The average meal checks follow:
Breakfast
Lunch
Dinner
$5.25
$10.24
$15.78
Calculate the dining room's forecast meal period sales, both in number
of guests and sales revenue dollars, for the month of November.
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