Which of the following is not required to carry out quantitative forecasting methods?

In quantitative forecasting methods, having a correlation of 1 is not a requirement. A correlation of 1 indicates a perfect positive relationship between two variables, where changes in one variable result in proportional changes in another. While understanding correlation can be important for analyzing relationships between variables, the absence of a perfect correlation does not prevent the application of quantitative forecasting methods.

Quantitative forecasting primarily relies on historical data to identify patterns and trends that can be modeled mathematically. A sufficient historical dataset is essential, as it provides the foundation for any predictive modeling. Statistical software is also necessary for analyzing data efficiently and applying the various quantitative forecasting techniques, but it does not have to be sophisticated or complex. Thus, while correlation can provide insights into the data's nature, a correlation of exactly 1 is not a requirement for conducting effective quantitative forecasting.