Which of the following statements is true?

Question

Any kind of forecasting technique is a guarantee for success
Some of the forecasting techniques are a guarantee for success
No technique is a guarantee, but using a standard tool is helpful
None of the above

Answer 1

The correct statement is: No technique is a guarantee, but using a standard tool is helpful.

Forecasting techniques can provide valuable insights and guidance, but none can guarantee success due to the inherent uncertainty in predictions and external factors that may influence outcomes. Using standard tools can help improve the consistency and reliability of forecasts.