Discussion questions for forecasting revenue

Assignment Help Operation Management

Reference no: EM13104785

Pick 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 for this discussion. I was going to pick Starbucks but got behind that is why posting .
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. Estimate 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 this 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.

Reference no: EM13104785

Questions Cloud

What would be the weight of the spherical mass : Assume that the earth is a uniform density spherical mass. (This assumption is not correct but we will use it for simplicity in working the problem.)

Probability that each will pass the exam : If there are 500 students in the school, what is the probability that everyone will pass the exam

Industrial development-relationship northern-southern states : In what ways and to what extent was industrial development from 1800 to 1860 a factor in relationship between northern and southern states?

Determine the mass of the second particle : Two equally charged particles, held 22.4 cm apart, are released from rest. The initial acceleration of the first particle is observed to be 4.0 m/s2 and that of the second particle is 6.0 m/s2.

Discussion questions for forecasting revenue : Pick 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 for this discussion.

Economic analysis section : The cash-for-clunkers program: objectives and results. Did the car companies ripped the benefits of the program

How much work is done by an applied force : How much work is done by an applied force that moves two charges of +6.8 µC that are initially very far apart to a distance of 5.3 cm apart?

Compute total cost for the current order size : A large law firm uses an average of 37 boxes of copier paper a day. The firm operates 256 days a year. Storage and handling costs for the paper are $31 a year per box, and it costs approximately $64 to order and receive a shipment of paper.

Choosing a montessori school : Explain why comparing children whose parents chose a Montessori school with children of other parents would not show whether Montessori schools perform better than other programs?

User Account

All Pages