Question

Four entrees are on next Friday’s menu: BBQ ribs, seafood platter, roast beef, and filet mignon. The number of each item sold the last time this menu was offered was 76, 118, 96, and 154, respectively, for a total of 444 entrees sold. For the past five Fridays, the following noon meal counts were recorded: 447, 423, 437, 444, and 429. For next Friday, how many portions of roast beef will be forecasted?

Answer 1

95.

Explanation:

Step one: the first step here is to find the mean or average of the data for the six(6) weeks of total entrees. That is, we will have;

Average = (444 + 447 + 423 + 437 + 444 + 429)/ 6 = 2,624 / 6 = 437.3.

Average = 437.3.

Step two: the next step here is to determine the popularity index for the roast beef roast beef will be forecasted and that will be;

popularity index = 96 / 444.

popularity index = 21.6%.

Step three: the quantity of roast beef that should be forecasted for next Friday will be;

Popularity index × Average.

0.216 × 437.3 = 95.

Hence, the quantity of roast beef that should be forecasted for next Friday will be 95.