Question
An analyst for a very large retail chain wishes to know which variables impact daily sales. Independent variables that are considered include daily average temperature,
An analyst for a very large retail chain wishes to know which variables impact daily sales. Independent variables that are considered include daily average temperature, precipitation amount, traffic data (if there was construction, if the roads are icy, etc.), day of the week, if it is a holiday season, location (outdoor strip mall, stand-alone store, small indoor mall, large indoor mall), population density in the 15 mile radius from the store, and many other factors. The analyst used a computer software program to select the best model, and the resulting model did not include daily average temperature. True or False: The analyst can conclude that daily average temperature is not correlated with sales.
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