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Revving Up Insights: Predicting Car Prices with Regression Models and Model Interpretability

  • The dataset consists of 405,002 rows and 12 columns.
  • Data processing techniques were implemented to improve the quality of the dataset.
  • A number of features were engineered or simplified to improve the model's interpretability.
  • The feature space was reduced using principal component analysis (PCA) and Scikit Learn selection to improve model performance and interpretability.
  • Four models were considered: Linear Regression, Random Forest Model, Gradient Boosting Regressor, and Averager/Voting Regressor.
  • The performance of each model was compared; the Voting Regressor was found to be the most suitable for this application.
  • The SHAP (SHapley Additive exPlanation) algorithm was used to provide global and local explanations of the models.
  • The feature importance analysis was executed for each model.
  • The model-predicted values were plotted against the actual values for each model.
  • The results show that the model is capable of providing accurate car prices within seconds.

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