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Exam 2: Creating Sales Forecasts

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Question 21

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Changes in selling price, new competitors, facility renovations, and improved selling programs are examples of factors that managers may need to consider when estimating future sales levels in their own operations.

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Question 22

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A "weighted average sale per guest" is a calculation of the number of guests served in a number of time periods and

A) the amount of profit made in the same time periods.
B) how much the guests spent in the same time periods.
C) the total amount of expense incurred in the same time periods.
D) how many hours the operation is open during all of the same time periods.

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Question 23

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An operation served 18,000 guests last month. The operation's manager forecasts an 8% increase in guests to be served next month. If the manager's forecast is correct, how many guests will be served next month?

A sales forecast estimates both the number of guests to be served in a specific time-period and the

Sales to Date is the number that results when managers add today's daily sales to the sales of all prior days in the same reporting period.

What is the formula managers use to calculate their Average Sales Per Guest?

What is the foodservice industry term for the amount of money that results when a manager adds the sales of today to the sales of all prior days in a reporting period?

A manager had sales of $800 on Monday, $1,000 on Tuesday, $750 on Wednesday, $1,300 on Thursday and $2,000 on Friday. What was the manager's average daily revenue for those five days?

What is the total estimated dollar increase in sales for the 6-month period?

Calculating sales variance is extremely helpful when comparing the changing financial performance of operations with very different volume levels.

A manager calculates that the decimal form percentage increase in her customer count this month when compared to last month is 0.055. To convert this decimal form percentage increase to the more frequently used common form percentage, this manager should

Knowledge of past sales levels rarely helps managers predict future sales because unknown variables affect how much business will be done during a future period of time.

What is the number managers use to record only the quantity of customers they have served?

An operation achieved an average sale per guest of $9.60 last month. The manager forecasts a 5% increase in average sale per guest for next month. The manager's average sale per guest forecast for next month is $10.08.

In most cases managers should keep their operations' sales history records for a period of at least two years.