Question
B.T. Marvel the owner/manager of the 100 room Finney Motel, forecasts room revenues based on the number of room sales and expected average daily rate
B.T. Marvel the owner/manager of the 100 room Finney Motel, forecasts room revenues based on the number of room sales and expected average daily rate (ADR). The monthly room sales in units for July-Sept 20X3 were as follows: July: 2,480 August: 2,542 September: 2,325 B.T. believes the room sales for each month will increase by two occupancy points. In addition, B.T. expects the average daily rate for July-September will be $75 (July), $78 (August), and $72 (September). Answer this two part questions: 1. Forecast the expected number of rooms to be sold for each month - that is July, August and September 20X4. 2. Forecast the room revenue for each of the three months. ------ I can't figure this out and my book has no examples. Please show not only the answers but how to do it. I have other similar problems to do. Thank you.
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