A company's vice president says, "I think we should do away with the practice of using forecasts as a basis for our plans. The results are not fully accurate." Which of the following would be the best rebuttal to this statement?

The fact that forecasting has not yielded exact results in the past does not mean that it will not do so in the future.

Companies in some other industries have effectively used forecasting for analyzing the potential of the external business environment.

Forecasts are meant to provide a general idea of the direction of future business and cannot be expected to be fully accurate.

Supply and demand conditions in the marketplace this year are expected to deviate significantly from historical averages.