Explain the trade-off between responsiveness and stability in a forecasting system that uses time-series data.

The following data show the number of liters of gasoline sold by Mackrin's in Colorado for the past 12 weeks. Which forecasting model would you recommend to Mackrin's manager? Why? What demand forecast would you recommend for week 13? Week Actual Demand (1000 liters) Forecasting (1000 liters) FSMA /A-F/ FWMA /A-F/ FES, α=0.3 /A-F/ 1 17             2 21         17 4 3 19         18.2 0.8 4 23 19 4     18.44 4.56 5 18 21 3 20.8 2.8 19.81 1.81 6 16 20 4 20 4 19.3 3.3 7 20 19 1 18.3 2.3 18.31 1.69 8 18 18 0 18.7 0.7 18.82 0.82 9 22 18 4 18.2 4.2 18.6 3.4 10 20 20 0 19.8 0.2 19.62 0.38 11 15 20 5 20.2 5.2 19.73 4.73 12 22 19 3 18.2 3.8 18.3 3.7 13   19   19.5   19.41   MAD     2.67   2.9   2.7 MSE     10.22…

Explain what can a company do to resolve the problem of forecasting accuracy?

What are the issues associated with qualitative forecasting, and how are these overcome?   Provide an example of qualitative forecasting and explain the shortcomings