The Case Problem is listed below which will include the question as well as the answer. From the given question and answer the student will need to within a minimum of six and a maximum of 10 sent. Describe what the data is describing as well as.

- Using statistical terminology, pointing out Important patterns, trends, and relationships

- Each step is written out on how the answer was solved

- Connections to other applications or statistical methods were made.

- Insightful implications of findings are discussed.

- Specific and insightful questions for further inquiry were given

- Ending with a well-developed conclusion to the findings.

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Analysis of the sales data for the Vintage Restaurant is given below: Statistical summary of the sales data is determined using given formulas in excel sheet: Initially fill the given sales data in the excel sheet: A B C D E F G H Year January February J March K L April M May June July 242 Aug Sep Oct 235 232 Nov 178 Dec 184 140 145 263 152 110 238 247 130 193 152 193 206 149 282 157 255 161 265 122 205 130 210 167 160 230 166 174 126 148 173 235 Put the given formulas in Cell 85:68 and drag till column M. A B Year January 2 1 242 3 2 263 4 3 282 5 Total: =SUM(B2:84) Mean: =AVERAGE(B2:84) Variance: =VAR(B2:B4] StDev: =STDEV(B2:84) The statistical summary sheet is shown below: A D E G Year H 1 January February March April May June July Aug 242 Sep 235 Ort 232 Now 178 184 Total 263 140 145 208 152 247 110 153 193 130 152 149 206 157 2,106 282 161 255 265 122 305 130 167 5 210 160 230 2,250 Total: 165 174 728 576 587 126 148 173 235 2.392 Mean: 142.67 248.00 1581 192.00 492 7 195.67 Variance: 149.67 671 156.00 6,755 100 33 116.33 162.33 273.00 183.00 136.00 17.33 164.00 100.37 223.67 SiDev: 111.00 20.0 122.3 10.7 16.52 59.33 13.5 108.00 13.20 417.00 10.02 240.33 10.5 11.0 10.3 10.82 15.50Case Problem Forecasting Food and Beverage Sales The Vintage Restaurant, on Captiva Island near Fort Myers, Florida, is owned and operated by Karen Payne. The restaurant just completed its third year of operation. During those three years, Karen sought to establish a reputation for the restaurant as a high-quality dining establishment that specializes in fresh seafood. Through the efforts of Karen and her staff, her restaurant has become one of the best and fastest-growing restaurants on the Island. To better plan for future growth of the restaurant, Karen needs to develop a system that will enable her to forecast food and beverage sales by month for up to one year in advance. The following table shows the value of food and beverage sales ($1,000s) for the first three years of operation: Month First Year Second Third Year Year January 242 263 282 February 235 238 255 March 232 247 265 April 178 193 205 May 184 193 210 June 140 149 160 July 145 157 166 August 152 161 174 September 110 122 126 October 130 130 148 November 152 167 173 December 206 230 235GIVEN DATA The vintage resturant on captiva island near fort myers is owned and operated by karen payne. SOLUTION Construct a time series plot using excel spreadsheet: Plot the time series for the time period along horizontal axis and sales along the vertical axis. Show the time series plot as in Figure (1). 300 250 Sales ($1000s) 200 150 100 50 0 5 10 15 20 25 30 35 40 Month Examining Figure (1), it shows that the time series exhibits some seasonal pattern along with linear trend. The figure also shows that the lowest reading occurs during the mid year and the highest reading occurs during the end of the year. Thus, the time series shows Seasonal Pattern with Linear TrendManagerial Report Perform an analysis of the sales data for die Vintage Restaurant Prepare a report for Karen that summarizes your ndings. forecasts. and recommendations. Include the following: 1. a time series plot. Comment on the underlying pattern in the time series