In this analysis we build a multiple linear regression model for the prediction of car prices.
An automobile company Geely Auto plans to enter the US market. They have contracted a consulting company to understand the factors on which the car pricing depends. The company wants to know:
1. Which variables are significant in predicting the price of a car.
2. How well those variables describe the price of a car.
Based on various market surveys, the consulting firm has gathered a large amount of car data across the Americal market.
The objective is to model the car price with the available independent variables. It will be used by the comapny to understand how exactly the prices vary with the independent variables. They can accordingly manipulate the design of the cars, the business strategy etc. to meet certain price levels.