For every forecasting problem, there is one best forecasting technique.

Question

Quizplus · Accepted Answer

There is no one best forecasting technique that can be applied to every forecasting problem. The choice of technique depends on various factors such as the nature of the data, the level of accuracy required, the availability of historical data, and the time horizon of the forecast. Different techniques such as regression analysis, time series analysis, and machine learning algorithms may be more suitable for different types of forecasting problems.

For Every Forecasting Problem, There Is One Best Forecasting Technique