Final answer:
The statement that careful tracking is vital throughout the development process is true (option 1), as estimations are essential for planning and decision-making, and tracking helps in refining estimation methods.
Step-by-step explanation:
The statement that whatever estimation method is used, careful tracking is vital throughout the development process is true. In any development process, be it software development, economic forecasting, or scientific research, estimations are crucial for planning and guiding decision-making. Moreover, careful tracking of estimates versus actual outcomes is key to understanding the accuracy of the estimation methods used and refining them for future use.
Firstly, having definite ideas about how variables are related will help with the art of estimation. Secondly, for small changes, an approximation can be used, but for more accurate measures, a more precise formula is needed. Lastly, estimations provide approximate guidelines that help differentiate between significant and insignificant changes or results.
Overall, the iterative nature of science and the iterative process of development rely on continuous measurement, estimation, and refinement to achieve accuracy and reliability in tracking variables like Real GDP or population numbers in ecological studies.