WHAT’S FOR DINNER? USING EXCEL TO FORECAST THE FUTURE OF FINE DINING

Authors

  • Caroliniana Padgett

Keywords:

SECRJ, Southeast Case research Association, tax-service, industries, trepidation, financial, exponential smoothing

Abstract

From construction to tax-services, Tom Jackson has had success in a wide array of industries over the years. In 2003, he ventured into yet another new industry by becoming an investor/partner in Bistro 101. In early 2008, Jackson became the restaurant’s sole owner. However, the excitement of taking full control of the restaurant soon turned to trepidation as the financial news coming from Wall Street began pointing to the possibility of the worst recession the U.S. had seen since the Great Depression.

Students are presented with background information about the business that includes three years of data outlining monthly consumer demand and sales revenue. Students are asked to contemplate several forecasting methods that include techniques like moving averages, exponential smoothing, and seasonal adjustment. After determining the proper forecast model specification, they are then asked to put together a forecast of the consumer demand and sales revenue for early 2009. (Excel spreadsheet available upon request to the authors.)

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Published

2016-12-31

Issue

Vol. 13 No. 2 (2016)

Section

Cases

License

Copyright (c) 2016 Authors Retain Copyright

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