Supervised Learning project : Linear Regression model, Linear Reg Assumptions, model performance evaluation
Airbnb is an online platform that allows people to rent short term accommodation. This ranges from regular people with a spare bedroom to property management firms who lease multiple rentals. On the one side, Airbnb enables owners to list their space and earn rental money. On the other side, it provides travelers easy access to renting private homes.
Airbnb receives commissions from two sources upon every booking, namely from the hosts and guests. For every booking, Airbnb charges the guest 6-12% of the booking fee. Moreover, Airbnb charges the host 3% for every successful transaction.
As a senior data scientist at Airbnb, you have to come up with a pricing model that can effectively predict the Rent for an accommodation and can help hosts, travelers, and also the business in devising profitable strategies.
- Explore and visualize the dataset.
- Build a linear regression model to predict the log of rental price
- Generate a set of insights and recommendations that will help the business.