Predicting Condominium Sale Prices
- Guided Project
- 0 hours
- Intermediate
- R
Practice using linear regression in R to predict condominium sale prices based on size and location in New York City.
Overview
In this project, you'll take on the role of a data analyst tasked with predicting condominium sale prices in New York City. Using property sales data, you'll apply linear regression modeling techniques in R to determine how well the size of a condominium explains its sale price, both across the city as a whole and within individual boroughs.
Throughout the project, you'll develop skills in data cleaning, exploratory analysis, and statistical modeling. You'll identify and handle outliers, use data visualization to understand trends, and build and interpret linear regression models. The project culminates in a comparison of model performance between boroughs.
Objective: Use linear regression modeling in R to predict New York City condominium sale prices based on size, and compare model accuracy between different boroughs.
What You'll Learn
- ✓ Expand your portfolio with a guided bivariate linear regression model project
- ✓ Overcome errors in the dataset that can influence modeling results
Before You Start
- ✓ Understanding the core concepts of predictive modeling
- ✓ Assessing variable relationships using scatterplots
- ✓ Fitting and interpreting linear regression models
- ✓ Evaluating the accuracy of linear regression models
Project Steps
8 steps
- 1 How Well does the Size of a Condominium in New York City Explain Sale Price?
- 2 Understanding the Data
- 3 Explore Bivariate Relationships with Scatterplots
- 4 Outliers and Data Integrity Issues
- 5 Linear Regression Model for Boroughs in New York City Combined
- 6 Linear Regression Models for each Borough - Coefficient Estimates
- 7 Linear Regression Models for each Borough - Regression Summary Statistics
- 8 Next steps
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