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Chapter 15 Business Statistics
Did you know that Burger King was the first fast-food chain with furnished dining rooms, giving customers a chance to eat inside? Did you know that the company's first television ad aired on Miami Florida's only VHF station in 1958? Well thanks to the Internet, customers can easily find information about a company's financial performance, achievements and history, current promotions, or just fun trivia. All of this information and more can be found on most companies' Web sites. The Burger King Corporation had its beginnings in Miami, Florida in 1954. The founders James McKamore and David Edgerton developed a business concept to offer the customer quality food at a good price, served quickly, in a clean, attractive surrounding. Burger King's success within the fast-food industry is a result of their achievements in product development, restaurant operation, decor, service and advertising. The company's first major marketing push was "The Bigger the Burger the Better the Burger." Since then an array of notable campaigns have been launched. Besides the advertising campaigns, restaurant decor has also contributed to Burger King's success. This corporation has taken considerable care in the layout and construction of its restaurants. In fact, the new concepts that will drive Burger King forward to meet future demands are the "In-Line" and "Co-branded" restaurants. According to company information, Burger King operates in all 50 U.S. States and in 54 countries and international territories. The total number of Burger King restaurants as of April 1999 is over 10,526 worldwide. As of the same date, annual sales reached 10.3 billion dollars. Approximately half of all business is attributed to drive-thru sales and another 15% of sales comes from take-out. Burger King employs more than 300,000 people, a significant increase compared to the 8,000 employed in 1967. Burger King serves approximately 1404 customers per restaurant each day. By 1985, average sales at a restaurant topped the $1 million mark. Burger King sells more than 1.4 billion WHOPPER sandwiches every year and 1.7 billion units of French fries. In 1988 the corporation moved its headquarters from the Kendall area of Miami, Florida to a 114 acre site in South Miami, Dade County, Florida. The headquarters consists of three buildings with 290,000 square feet of office space. All this information and more can be found at www.burgerking.com. Problem: Preparation: In preparation for this problem, do the following:
Visit www.sad.it/english/NExS-1.3-user_guide/node260.html to review the different types of charts and graphs. Questions: 1. In 1954, a Burger King hamburger cost 18 cents. Assume the following information is valid, and find the mean or average cost of a Burger King hamburger: 1959 - 32 cents, 1964 - 28 cents, 1969 - 39 cents, 1974 - 47 cents, 1979 - 54 cents, 1984 - 79 cents, 1989 - 59 cents, 1994 - 67 cents, 1999 - 72 cents, including the 1954 cost of a hamburger. Round your answer to the nearest cent. 2. According to the summary of Burger King above, a certain percent of sales is attributed to drive-thru sales, a certain percent to carryout, and the remaining sales are categorized as "other." Using the stated percents for each, create a circle graph. Note: A circle graph is based on a whole, or 100%. 3. Burger King serves approximately 1404 customers per restaurant each day. Approximately how many customers does the average Burger King restaurant serve a year? 4. www.burgerking.com/company/facts.htm contains the following information about the number of Burger King restaurants in operation. Use this information to create both a bar graph and a line graph. Number of Restaurants (As of April 30, 1999):
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