Understanding the Restaurant Industry

Running Head: UNDERSTANDING THE RESTAURANT INDUSTRY agreement the eating place Industry Abstract / (Statement of the Problem) One of my favorite inconsistencies is when you go turn up to dinner or look at a eating place parking lot and invariably you sustain to wait or the parking lot is packed; meanwhile, all you hear more or less on the news is how bad the economy is doing. Thus, I compliments to investigate the impact to the amount of money spent at full service restaurants by economic factors such as median sales set of housing units, grease-gun prices, unemployment, face-to-face savings rate, and grocery store sales. Restaurant owners and/or community looking to start a restaurant would benefit from entropy that shows whether there is a correlation beca enforce they could more accurately object for or react to current and future business environments. soothsayer Variables: Median Sales price Price of U.S. Housing Units, hitman Prices, Unemployment Rates, Personal Savings Rate, and Grocery Store Sales. Understanding the Restaurant Industry I am looking into variances in the amount of money spent by U.S. consumers at full service restaurants and how it is bear upon by various economic factors. I impart use 10 years of periodic data (1998-2008) reported at economagic.

com monthly for all variables (with the exception of gas prices which will be converted from weekly to monthly). The first predictor variable I am going to look at is the fluctuation of gas prices. Since all the other variables I am using atomic number 18 reported in months, I will convert the price of gasoline to months by taking the mean of each monthly cycle of data. According to KAON Consulting (2008) as reported at runningrestaurants.com: With the price fluctuations in crude oil, lower and mid level-income households will feel a tighter pinch on spending expendable income on dining out as they will needfully be hit hard with increased gasoline prices. Studies have shown a direct correlation to slumping restaurant sales and the... If you need to get a full essay, order it on our website: Orderessay

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