Based on the clean data set from question 2,
- Use descriptive analytics techniques and investigate the relation of all the variables with the variable price. Based on your analysis present six most relevant figures and/ or tables explaining the relationship between price and other variable(s). Include the visuals (figures/ tables) associated with the six most relevant variables in the answer sheet. Interpret them in less than 150 words. (10 marks)
- Develop a regression model with price as the output variable and the six variables that you already identified in 3-A as the input variables. Present the regression table and the regression equation. Comment on the regression table and regression equation. Word limit is 150 words. (10 marks)
- Try to increase the accuracy of the model in several iterations. Use different techniques to increase the model accuracy as you judge them suitable, for example, you can include or exclude different variables, or you can combine different levels of a categorical variable. Present a final regression equation and a final regression table. Interpret the final regression table and equation. Explain how you increased the accuracy of the model. Please use less than 300 words for this section. (20 marks)
Note: the accuracy of the model can be low.