Another method of business forecasting would be qualitative models. Unlike a time series model, this type of model utilizes more opinions and judgments. There are four different approaches of qualitative methods. The first is the Delphi method. The Delphi method which uses questionnaires and modifies them until they receive the results necessary. Another approach is the jury of executive opinion which takes small amounts of managers to obtain the demand aspect. Sometimes statistic models are used to assist as well. Some use the consumer market survey which takes the opinions of consumers to forecast future purchasing. Lastly, sales force composite is when every member of a sales teams predicts a realistic sales number for their area. (Hanna, Render, & Stair, 2012) The Department of Energy’s Energy Information Administration (EIA) focusing a great deal on sales from main suppliers. The following chart beginning in 1990 to the most current data, it highlights when Americans were paying the most for gasoline as well as when it was the least expensive. It’s obvious to see that shortly after the recession in 2008 there a major increase in the price of gasoline from suppliers which lead to reduction of sales in the US (Short, 2014). Ever since that point the price of gasoline has slowly been decreasing to around three dollars where it is currently. Not only has the price per gallon lessened but sales have slowly been falling as well. Some people blame the fact there are other sources to power cars such as electricity but it’s apparent that the main cause is that vehicles are becoming more fuel-efficient. The increase fuel efficiency is partially due to the mandated average fuel economy. As 2025, it’s expected to have all automakers be at an average of 54.5 gallons per year while it is currently around 29 but shall show progress throughout the years until 2025 (Vlasic, 2012, p. 1). Even though vehicles in the US becoming more fuel efficient, there are a large amount of people that believe that the price of gasoline is too high. The sad truth is that with the rate of inflation the surprise factor has also diminished. To go back in time to 1919 when gas was twenty five cents but to a more recent year is would equal $3.35 a gallon (Avro, 2014). Currently looking around gas is around three dollars a gallon, cheaper in comparison to what it was.

Avro, S. E. (2014, March 14). Charting the Dramatic Gas Price Rise Over the Last Decade. Retrieved from http://www.energytrendsinsider.com/2012/03/14/charting-the-dramatic-gas-price-rise-of-the-last-decade/

Hanna, M.E., Render, B., & Stair, R.M. (2012). Quantitative analysis for management. Upper Saddle River, NJ: Pearson Education, Inc.

Short, D. (2014, October 24). Advisor Perspectives. Retrieved from http://www.advisorperspectives.com/dshort/updates/Gasoline-Sales.php

Vlasic, B. (2012, August 28). U.S. Sets Higher Fuel Efficiency Standards. The New York Times. Retrieved from http://www.nytimes.com/2012/08/29/business/energy-environment/obama-unveils-tighter-fuel-efficiency-standards.html?_r=0