Question

The manager of a fashionable restaurant open Wednesday through Saturday says that the restaurant does about 29 percent of its business on Friday night, 31 percent on Saturday night, and 21 percent on Thursday night. What seasonal relatives would describe this situation?(Round your answers to 2 decimal places.)

Wednesday
Thursday
Friday
Saturday

Answer 1

Answer: The seasonal relatives is calculated are as follows:

Explanation:

Given that,

restaurant only open from Wednesday to Saturday,

• 29 percent of its business on Friday
• 31 percent on Saturday night
• 21 percent on Thursday night.

∴ The remaining 19% of its business he does on Wednesday

Now, suppose that total production of sales in a given week be 'y'

So, average sales in a week =
`(y)/(4)`

If we assume that y = 1

hence, average sales in a week =
`(1)/(4)`

= 0.25

Now, we have to calculate the seasonal relatives,

that is,

=
`(Sales in a given day)/(average sales in a week)`

Wednesday:

=
`(0.19)/(0.25)`

= 0.76

Thursday:

=
`(0.21)/(0.25)`

= 0.84

Friday:

=
`(0.29)/(0.25)`

= 1.16

Saturday:

=
`(0.31)/(0.25)`

= 1.24