A Chinese automobile company Geely Auto aspires to enter the Nigerian market by setting up its manufacturing unit and producing cars locally to compete with their Nigerian, US and European counterparts. They have contacted you, a Data Scientist to understand the factors on which the pricing of cars depends. Specifically, they want to understand the factors affecting the pricing of cars in the Nigerian market, since those may be very different from the Chinese market.
The company wants to know: • Which variables are significant in predicting the price of a car • How well do those variables describe the price of a car