Reference no: EM13222989
Forecasting Revenue (Customer Demand) Essay
Note: A coffee shop where customers order at the counter works well for this activity, but small restrauants, auto parts stores, hair salons, and many other businesses also work.
Required:
Observe
Observe a business serving customers for 15 minutes or 20 minutes.
During this time count the customers served and the approximate dollar amount of each customer's order.
Calculate and estimate revenue
1. Calculate an AVERAGE amount per customer order.
2. Then estimate the revenue for this hour. IE 15 minutes multiply by 4, 20 minutes multiply by 3 for the revenue per hour.
3. Then using the hours of operation, estimate the number of customers and the revenue per day.
4. Then using the days of operation in the week, estimate the number of customers and the revenue per week, per month and per year.
Instructions:
1. Share thi experience in a paragraph in the discussion area.
2. Write a second paragraph about the assumptions you needed to make for this assignment AND how this would be different if you needed to order the items needed to serve the customers for this week.
|
Why would the new congress do better to let some states
: Consider current budget problem of many states. What is it Explain. What are the two basic choices for them to get out of financial trouble Explain the impact of each. Why are some states playing for a federal bailout if needed
|
|
Attempted to seize all of the seed in the store
: Miller mixed together the seed that was for sale with the seed in storage so that a customer could not see any difference between them. Miller defaulted on a $380,000 loan from the First State Bank of Purdy. First State attempted to seize all of the ..
|
|
What disparate treatment means and disparate impact
: Please define sexual harrassment. In addition what was discussed in the discussion section of this class related to sexual harrassment and define for the instructor what disparate treatment means and disparate impact?
|
|
A hypothetical website development company
: The deliverable is a single-page letter addressed to a hypothetical website development company.
|
|
Calculate an average amount per customer order
: Write a second paragraph about the assumptions you needed to make for this assignment AND how this would be different if you needed to order the items needed to serve the customers for this week.
|
|
What is ivory towerism and why is it dangerous
: 1) How does using monetary policy to stimulate the economy work 2) Explain what the Breakeven rate of Growth is. 3) Explain why frictional rates of Unemployment vary by nation. What is Ivory Towerism and why is it dangerous
|
|
What is the optimal production quantity for the card
: What is the optimal production quantity for the card? (Round your answer to the nearest whole number.)
|
|
Find the reorder point necessary to provide a 95 percent
: The annual demand for a product is 14,200 units. The weekly demand is 273 units with a standard deviation of 95 units. The cost to place an order is $32.00, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is..
|
|
Why do green laws undermine the idea of deflation
: 1) Why are Cost Minimization and Profit Maximization on paper the same but in application different 2) What are movie subsidies and why are they more inefficient than other government aided investment 3) Why do Green laws undermine the idea of deflat..
|