Lost$-$horse forecasting involves

Multiple Choice

admitting that the actions you have taken in the past have failed and removing those and similar actions from your list of alternatives.

starting with the last known value of the item being forecast, listing the factors that could affect the forecast, assessing whether they have a positive or negative impact, and making the final forecast.

making estimates without any intervening steps.

following a prescribed set of "directives" established before the research was even begun.

selecting the forecasting alternative that would allow a firm to survive financially even if the forecasts were totally incorrect.