Question

You operate a food truck serving lunch to corporate customers in midtown. You suspect that one predictor of customer demand is the unemployment rate in New York City, but you are not sure. One advantage to regression forecasting models is that it helps you to identify if a variable (like the unemployment rate in NYC) actually helps to predict to demand.
a. True
b. False

Answer 1

Answer:

TRUE

Explanation:

The unemployment would be the independent variable in the regression while demand would be the dependent variable.

By carrying out a regression analysis, it can be determined if there is a significant relationship between unemployment and demand