Problem 1 The Sample Hotel uses the simplest time series approach for forecasting monthly revenues. The current year's revenues by department are multiplied by 1 + x percent to forecast the next year's revenues. The current year's department revenues for January and percentage increases for the coming year are provided below. Required: Calculate monthly forecasted revenues by department below: Department 20X1 Revenues Percentage Increase Rooms Food 20X2 Forecasted Revenues $192,000 45,500 5% 3%