Las Vegas Visitors Case Study

Executive Summary Dumitri Mironescu is the owner of a limousine company in Las Vegas which currently consists of 17 vehicles. During the year of 2012, Dumitru decided that it was time to replace three of the company’s 17 vehicles. In addition, Dumitru wanted to add two new vehicles to his fleet of limousines. Dumitru submitted a business plan to the bank to finance his purchases. After reviewing his business plan, the bank was not comfortable with the company’s revenue forecast and needed further convincing. Dumutri got help from his son to prepare a forecast for visitors to Las Vegas in 2013. Revenue for the limousine service is driven by the amount of visitors to the area. Therefore, in order to forecast the company’s revenue, Denis will have to prepare a forecast for visitors to Las Vegas using different forecasting methods. The best forecast method will be chosen and will help determine the growth of revenue; and ultimately decide whether Dumitru should replace three vehicles as well as add two additional vehicles to his fleet.
Background
In 1983, Dumitru Mironescu and his family fled Romania and settled in Las Vegas. In order to help his family survive, Dumitru had given up ideas of furthering his education and took a job at a major hotel as a parking attendant until he learned to speak English. His incredible attention to detail and friendly interaction with everyone was noticed. Eventually his hard worked paid off and he was offered the position as the driver for the hotel limousine service. After a few years of driving limousines for the hotel, Dumitru and his friend David, put together all their money and bought their own used vehicle to start a limousine service. Since then, Dumitru and David’s limousine service has been fairly profitable and is currently one of the best limousine services in Las Vegas, with a fleet of 17 vehicles. In 2012, Dumitru decided it was time to replace three of his oldest vehicles as well as expand his fleet by adding