Business Analytics Project ISDS 361 A Fall 2022 Broadway Restaurant Project Description Table turnover rate is one of the most important metrics in any restaurant. Maintaining a table turnover rate that is long enough to allow guests to enjoy their dining experience, but short enough to ensure that new parties won't wait long to be seated is the key to success. As a restaurant owne, operator, or manager, maintaining an optimal number of table turnovers would guarantee a smooth operation and a high profit. On the contrary, lackluster table tumover rate, could spell disaster for the operation. Guests will wait substantially longer, servers will find themselves in chaos, the kitchen gets backed up, and the restaurant will lose money. Luckily, there are a variety of techniques that can be used to manage this. But one of the main factors affecting the number of turnovers is the day of operation during the week. One expects that table turnovers should be higher in the weekends compare to weekdays. A famous restaurant chain "Broadway" targets three "turnovers" on weekend nights and by three turnover we mean that each table gets three different groups of customers. Therefore, if any group stays more than certain time for dessert, coffee or just chatting will cause a big loss to the owner of the restaurant. In a study to see which group of people spend more time in the "Broadway" restaurant a random sample of time spent for 150 groups were taken with each group having a different number of members. The restaurant owner is trying to get some insight into the data to see which group of people spend more time in the restaurant so he can use the results to plan accordingly. The data is in the Excel file named "Restaurant" reflects the time that all groups spent in the restaurant. (You need to show your work for all parts of the project, otherwise, you will not get the full point even if your final answer is correct) Phase 1: The objective of the first phase of this study is to summarize the most important features of the raw data. Use "sheet 1 data" in the Excel file "Restaurant" to answer the following: (You need to show your work for all parts of the project, otherwise, you will not get the full point even If your final answer is correct) Phase 1: The objective of the first phase of this study is to summarize the most important features of the raw data. Use "sheet 1 data" in the Excel file "Restaurant" to answer the following: a. Describe the problem background, objective of study and identify the type of scale of measurement b. Identify the yariable in question c. Use the appropriate descriptive statistics to explore and summanize the data luse f sheet 1. data". You need to interpret the tejults based on what vou learned in the course. d. What is the probability that the time apent for all groups 15 between 35 and 55 minutes? E. If a group is at the top is of time spent in the restaurant, what should be then time spent? 27,56,31,47,35,55,35,45,47,52,49,58,57,33,35,40,59,32,39,45,39,64,48,52,41,43,4 9,45,39,51,43,40,42,44,45,52,48,47,51,49,40,35,62,44,46,50,43,39,48,41,56,39,61 62,34,69,41,46,28,48,44,42,47,42,39,30,62,47,34,43,46,63,65,40,60,53,60,54,58,4 9,52,65,55,62,45,58,36,57,44,60,55,59,54,47,52,41,42,58,59,64,49,42,40,43,51,52 66,69,52,56,44,59,43,52,44,59,54,44,57,58,56,54,51,51,57,55,55,35,60,51,62,54,5 7,63,51,60,45,61,57,68,69,55,58,69,54,56,70,49,43,51 Project preparation and formatting guidelines During the semester, each student will work on an analytics project that requires the application of the statistical tools and methods leamed in the course to a real business problem. A dataset will be provided for this purpose. The project will be carried out in two distinct phases and will culmittate in a final report not exceeding 35 pages, including all tables and figures (Times New Roman 12-pt font single-spaced with 1 -inch margins - pn all sides). The phases of the project are: - Phase 1: In this phase, the student will write up a "project proposal" (1-1.5 page maximum, same format as the fanal report) that will include a brief introduction, description of the data, the business questions to be answered, and basic exploratory analyses using descriptive statistios fgranhs and numerical summary measures). - Phase 2: In this phase, the student will use the work from Phase 1 in conjunction with the feedback received from the instructor to complete all the analysis required to address the business problem. The results and final conciusions should then be written up in the final report not exceeding 3.5 pages. Your report should have the following sections (Phase 1 - proposal: Phase 2 - final report), arranged sequentially: 1. Introduction and problem background (Phase 1. Phuse 2) 2. Data description and the business questions to Be answered (Phase 1, Phase 2) 3. Initial data exploration - descriptive statistics/graphs (Phase 1, Phase 2) 4. Analyses (Phase 2) 5. Interpretation of results and final conclusions and recommendations for decision-making (Phase 2) Submission: Your find report must be uploaded on Canvas as a single Microsoft Word or a pdf file. No email submission will be accepted. If a student disregards this and uses email to submit, a zero is assigned for the report. Submitting a report is no guarantee for receiving any credit. Business Analytics Project ISDS 361 A Fall 2022 Broadway Restaurant Project Description Table turnover rate is one of the most important metrics in any restaurant. Maintaining a table turnover rate that is long enough to allow guests to enjoy their dining experience, but short enough to ensure that new parties won't wait long to be seated is the key to success. As a restaurant owne, operator, or manager, maintaining an optimal number of table turnovers would guarantee a smooth operation and a high profit. On the contrary, lackluster table tumover rate, could spell disaster for the operation. Guests will wait substantially longer, servers will find themselves in chaos, the kitchen gets backed up, and the restaurant will lose money. Luckily, there are a variety of techniques that can be used to manage this. But one of the main factors affecting the number of turnovers is the day of operation during the week. One expects that table turnovers should be higher in the weekends compare to weekdays. A famous restaurant chain "Broadway" targets three "turnovers" on weekend nights and by three turnover we mean that each table gets three different groups of customers. Therefore, if any group stays more than certain time for dessert, coffee or just chatting will cause a big loss to the owner of the restaurant. In a study to see which group of people spend more time in the "Broadway" restaurant a random sample of time spent for 150 groups were taken with each group having a different number of members. The restaurant owner is trying to get some insight into the data to see which group of people spend more time in the restaurant so he can use the results to plan accordingly. The data is in the Excel file named "Restaurant" reflects the time that all groups spent in the restaurant. (You need to show your work for all parts of the project, otherwise, you will not get the full point even if your final answer is correct) Phase 1: The objective of the first phase of this study is to summarize the most important features of the raw data. Use "sheet 1 data" in the Excel file "Restaurant" to answer the following: (You need to show your work for all parts of the project, otherwise, you will not get the full point even If your final answer is correct) Phase 1: The objective of the first phase of this study is to summarize the most important features of the raw data. Use "sheet 1 data" in the Excel file "Restaurant" to answer the following: a. Describe the problem background, objective of study and identify the type of scale of measurement b. Identify the yariable in question c. Use the appropriate descriptive statistics to explore and summanize the data luse f sheet 1. data". You need to interpret the tejults based on what vou learned in the course. d. What is the probability that the time apent for all groups 15 between 35 and 55 minutes? E. If a group is at the top is of time spent in the restaurant, what should be then time spent? 27,56,31,47,35,55,35,45,47,52,49,58,57,33,35,40,59,32,39,45,39,64,48,52,41,43,4 9,45,39,51,43,40,42,44,45,52,48,47,51,49,40,35,62,44,46,50,43,39,48,41,56,39,61 62,34,69,41,46,28,48,44,42,47,42,39,30,62,47,34,43,46,63,65,40,60,53,60,54,58,4 9,52,65,55,62,45,58,36,57,44,60,55,59,54,47,52,41,42,58,59,64,49,42,40,43,51,52 66,69,52,56,44,59,43,52,44,59,54,44,57,58,56,54,51,51,57,55,55,35,60,51,62,54,5 7,63,51,60,45,61,57,68,69,55,58,69,54,56,70,49,43,51 Project preparation and formatting guidelines During the semester, each student will work on an analytics project that requires the application of the statistical tools and methods leamed in the course to a real business problem. A dataset will be provided for this purpose. The project will be carried out in two distinct phases and will culmittate in a final report not exceeding 35 pages, including all tables and figures (Times New Roman 12-pt font single-spaced with 1 -inch margins - pn all sides). The phases of the project are: - Phase 1: In this phase, the student will write up a "project proposal" (1-1.5 page maximum, same format as the fanal report) that will include a brief introduction, description of the data, the business questions to be answered, and basic exploratory analyses using descriptive statistios fgranhs and numerical summary measures). - Phase 2: In this phase, the student will use the work from Phase 1 in conjunction with the feedback received from the instructor to complete all the analysis required to address the business problem. The results and final conciusions should then be written up in the final report not exceeding 3.5 pages. Your report should have the following sections (Phase 1 - proposal: Phase 2 - final report), arranged sequentially: 1. Introduction and problem background (Phase 1. Phuse 2) 2. Data description and the business questions to Be answered (Phase 1, Phase 2) 3. Initial data exploration - descriptive statistics/graphs (Phase 1, Phase 2) 4. Analyses (Phase 2) 5. Interpretation of results and final conclusions and recommendations for decision-making (Phase 2) Submission: Your find report must be uploaded on Canvas as a single Microsoft Word or a pdf file. No email submission will be accepted. If a student disregards this and uses email to submit, a zero is assigned for the report. Submitting a report is no guarantee for receiving any credit