Which of the Following Statements About Forecasting Is NOT Correct

question 43

Multiple Choice

Which of the following statements about forecasting is NOT correct?

• A) Forecasts should have at least two numbers: one for the best estimate of demand and the other a measurement of forecasting error.
• B) There is no universal forecasting method for all situations.
• C) Forecasts of sales and demand will always be equal.
• D) Forecasting is both an art and a science.

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Definitions:

Oil Companies

Corporations involved in the extraction, production, refinement, and distribution of oil and petroleum products.

Corporate America

A term referring to the United States' business sector, particularly large multinational companies and the economic and political influence they wield.

American National Exhibition

An exhibition held in Moscow in 1959, as part of cultural exchanges during the Cold War, showcasing American technology, lifestyle, and art to the Soviet public.

Consumption

The action of using up goods and services by households or individuals, an essential concept in economics that relates to demand and spending habits.