A comparison of time series and regressions models for forecasting Mu'tah University restaurant sales

Abstract EN

Historically, forecasting of restaurant sales has been "judgmental based We have investigated various forecasting models for accuracy "and efficiency.

The results of this study show that for the actual restaurant sales in this sample.

time series models (specifically three parameters exponential smoothing and Box-Jenkins models) perform as well or better in forecasting sales than the regression models Since time series models (especially three parameter, exponential smoothing model) are typically more economical in terms of time and skill levels of the users, the results of this important implications are recommended for the use of forecasting techniques in the restaurant industry