Penny Pinchers Discount Is a Major Discount Store Chain in the Southwest

question 115

True/False

Penny Pinchers Discount is a major discount store chain in the Southwest. The company wants to do a better job of finding sales patterns and trends that will help it customize the product offerings for different stores. Data mining is one technique that would help Penny Pinchers achieve this goal.

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Definitions:

Main Effect

The direct impact of an independent variable on a dependent variable in a statistical model.

Confidence Interval

A range of values derived from sample data that is likely to contain the value of an unknown population parameter, with a specified level of confidence.

Credit Card Customers

Individuals who have been issued a credit card by a bank or other financial institution and utilize it for transactions.

Average Amount

An alternative expression for mean, representing the central or typical value in a set of data.