Which of the following statements about forecasting is NOT true?
A) Highly sophisticated quantitative approaches to forecasting still require interpretation.
B) Forecasts are always subject to error and should be treated with caution.
C) Forecasting always relies on human judgement.
D) Forecasting is an effective and efficient substitute for planning.
E) Forecasting is a planning tool.

Question

Quizplus · Accepted Answer

Forecasting is used to inform planning by providing estimates of future conditions or events, but it does not replace the need for planning itself. Planning involves setting goals, developing strategies, and outlining tasks and schedules to achieve those goals, which forecasting alone cannot accomplish.

Which of the Following Statements About Forecasting Is NOT True