The Westar hotel, a 250 room business hotel has 2 lounges on its premises: Pour Nous Lounge (for 50 people)and Gaisete - for 200. We need to forcast beverage sales. Should we take into consideration season promotional food offered during happy hour, and the presence of a piano player in Pour Nous Lounge.Room occupancy is a fact to consider since the number of people staying might well influence beverage sales. the data available is for most recent 30 month..
The promotional food had been discotinued after mo. 12 and the piano player after mo. 13. No data available for mo. 14 & 15 due to change in ownership. What factors really influenced beverage sales? Should the piano player and the seasonal food offered during happo hour should be reinstated? I need to use multiple linear regression to forcast the success in beverage sales. See attached data
In the present solution, a case study to examine the influence of various factors on the beverage sales is carried out using the multiple regression analysis tool and the conclusion is arrived.
The general procedure for implementing multiple regression analysis by using regression analysis tool of M S Excel is provided. Explanations are given, for how to interpret the estimated regression parameters such as the regression coefficients, coefficient of determination etc.