Forecasting Strategies at Hard Rock Cafe

What is the primary focus of Hard Rock Cafe's forecasting efforts?

• Menu pricing

• Customer traffic

• Labor scheduling

• Facility expansion

Which forecasting technique does Hard Rock Cafe use to inform menu pricing decisions?

• Moving averages

• Exponential smoothing

• Regression analysis

• Weighted moving averages

How does Hard Rock Cafe use weighted averages in its forecasting process?

• To set manager bonus targets

• To determine menu prices

• To plan facility expansions

• To schedule labor

What is the heaviest weighting given to in Hard Rock Cafe's weighted average for manager bonus targets?

• The oldest year

• The most recent year

• The previous year

• The average of all years

Which of the following is NOT a use of sales forecasts at Hard Rock Cafe?

• Securing long-term contracts for ingredients

• Planning facility expansions

• Determining employee salaries

• Informing cash flow projections

What type of forecasting is essential for scheduling labor and managing immediate supply needs at Hard Rock Cafe?

• Long-term forecasting

• Intermediate-term forecasting

• Short-term forecasting

• Strategic forecasting

Which data does Hard Rock Cafe meticulously track to understand customer behavior?

• Number of entrees served

• Total revenue

• Employee attendance

• Supplier delivery times

What role does Todd Lindsey hold at Hard Rock Cafe?

• General Manager

• Senior Director of Finance

• Head Chef

• Marketing Director

How far in advance does Hard Rock Cafe typically issue contracts for raw materials like leather for jackets?

• 3 months

• 6 months

• 8 months

• 12 months

What is the purpose of using regression analysis in Hard Rock Cafe's forecasting?

• To predict labor needs

• To assess price elasticity of demand

• To determine facility expansion needs

• To calculate employee bonuses