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Linear Regression Analysis.docx

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Linear Regression Analysis

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Introduction

The purpose of this report is to carry out a multiple linear regression analysis with the objective
of estimating the second-hand car prices based on factors like Mileage, Engine Size, Power,
and Seats. For the consumers and the sellers, it is critical to have an insight of the relation
between these variables and car prices so as to arrive at some form of decision making. The
study questions are as follows: Independent variables such as Transportation, Product variety,
Advertising, and Quality; how do they affect the Dependent variable, Price? Using regression
statistics, R-squared values, F-statistics and p-values are used in the report to analyse the
strength and significance of the stated relationships. The study can help provide further
understanding as to which aspects affect the car’s price most in the car market to assist the
present market strategies for automobiles. This work not only characterises these features but
also draws attention to their fluctuating impact, which in turn helps to make better predictions
for the price of second-hand cars.

Multiple Linear Regression for Car Price Prediction

(Source: MS Excel)
Regression analysis, which is used to forecast automobile pricing based on mileage, engine
size, power, and seating capacity, delivers valuable information. The Multiple R value of
0.8615 suggests that the automotive price has a significant positive connection with the

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specified independent variables. With an R-squared value of 0.7422, this model fits the data
rather well, accounting for 74.2% of the variation in automotive costs. The F-statistic of 68.36
and the p-value (3.9644E-27) in the ANOVA section show that the model is statistically
significant. This means that the factors used collectively have a considerable impact on
predicting automobile pricing.
Looking at the coefficients, mileage has a negative impact on price (-9,928.82),
showing that more mileage is associated with lower automotive cost. However, the high p-
value (0.6626) suggests that mileage might not be a statistically significant predictor in this
model. Engine size has a modest impact, with a low coefficient (-11.12) and a high p-value,
indicating that it is not a significant factor. Power has a positive and statistically significant
impact (coefficient: 11,038.79, p-value: 6.00401E-13), making it a useful predictor for
estimating automotive prices. Seats have a positive influence, albeit the p-value (0.1740)
suggests that it is of modest significance. Overall, the model fits well, although the significance
of each variable varies, with Power having the most influence.

Multiple Linear Regression for Paris Housing Price Prediction

(Source: MS Excel)
Using the variables basement, attic, and garage, the regression study done to forecast Paris
house values shows that the model does not fairly represent the elements impacting house
prices. The Multiple R value of 0.0177 indicates a modest association between these
independent variables and house prices. This weak connection suggests that the chosen

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variables have little influence on price changes in the dataset, suggesting that other factors may
be more important in determining house prices.
The R-squared value of 0.0003 highlights the model's limitations, explaining only
0.03% of the volatility in housing prices. This highly low R-squared value indicates a poor fit,
meaning that the model does not account for the vast majority of the factors that influence
house values. The ANOVA analysis supports this conclusion, with an F-statistic of 1.043 and
a significance F value of 0.372, suggesting that the model is not statistically significant. This
lack of significance shows that the basement, attic, and garage variables provide insufficient
information for estimating property values. Looking at the individual variables, the basement
and attic had coefficients of -3.97 and -0.62, respectively, with high p-values (0.692 and 0.950).
These findings suggest that neither basements or attics have a significant impact on house
values. The garage variable, with a coefficient of -189.18 and a p-value of 0.085, has a
somewhat larger influence but does not achieve statistical significance.

Conclusion

Regression evaluations for predicting second-hand car prices and Paris property prices reveal
varying levels of model performance. For car expenses, the model showed a strong fit with an
R-squared value of 74.2%, indicating that power is a significant predictor, while other variables
such as mileage and engine had a smaller impact. In contrast, the housing price model had a
poor fit, with an R-squared value of only 0.03%, indicating that the selected variables
(basement, attic, garage) have no significant impact on home values. Overall, the automotive
pricing model is effective in predicting prices, while the home price model suggests that
additional key factors should be investigated in order to improve accuracy.

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