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 that time, 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 ($1,0009) for the first three years of operation: First Second Third First Second Third Month Year Year Year Month Year Year Year January 247 268 287 July 145 157 166 February 235 238 255 August 152 161 174 March 237 252 270 September 110 122 126 April 178 193 205 October 130 130 148 May 184 193 210 November 157 172 178 June 135 144 155 December 206 230 235 Using the dummy variable approach, forecast sales for January through December of the fourth year. Month Forecast (expressed in $1000s) January July August October December Assume that January sales for the fourth year turn out to be $295,000. What was your forecast error? Forecast error: What month do we expect the lowest sales