At the end of the first fiscal quarter, which ended on the last day of last month, the research team at Finer Diner computed the following model as a means of predicting monthly gross revenues:
Gross revenues (Y) = 618.4 + 282.68(Advertising Expenditures) + 95.43(Number of Nights with Live Entertainment)
Y = Gross revenues (monthly)
X1 = Advertising Expenditures (monthly)
X2 = Number of Nights with a Band Present (monthly)
Calculated p-values for Advertising Expenditures and Number of Nights with Live Entertainment are 0.00005 and 0.35 respectively.
Currently, the restaurant spends $500 per month on advertising and has live entertainment fifteen nights per month.
Based on the current model and p-values:
Predict gross revenues if the restaurant raised monthly advertising expenditures by 15%, 25%, and 50%.
Predict gross revenues if the restaurant provided live entertainment 12 nights per month, 20 nights per month, and 24 nights per month.
Create a 6- to 8-slide MicrosoftÂ® PowerPointÂ® or Prezi presentation in which you:
- Identify goals of 15% increase in gross revenues for the next fiscal month, a 25% increase in monthly gross revenues for the current quarter, and a 50% increase in monthly gross revenues at the end of this fiscal year.
- Predictchanges in advertising expenditures and how many nights live entertainment is offered that will lead to meeting the goals.
- Illustrate potential strategies to accomplish your proposed increases.
Compose a script for your presentation in the notes section of your MicrosoftÂ® PowerPointÂ® slides or in a MicrosoftÂ® WordÂ® document if using Prezi.
Format any references and citations consistent with APA guidelines