Question

A bakery company observed that Friday’s are its busiest days in terms f selling white powder donuts and customers are increasingly ordering more donuts on fridays. The manager of the bakery store who had tracked the daily sales volumes of these donuts for the past 6 months wZnts to know how many donuts to have available on each Friday during the next months. How can this be determined? What additional data is needed. Why ch statistical analysis techniques should be used? Can an analysis be performed?

Answer 1

From the past data, you can make a line diagram, by the trend of the Friday donut sales data you can roughly predict the sales.

As additional information to make the database stronger you can have data even older than 6 months, in that case, it will be a little easier to visualize the trend.

Various Time series analysis can be performed.Like periodicity of sharpness or fluctuations of the data.Even you can fit a prediction line based on the shape of the data.