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Predicting-Diamond-Prices
Project 1.1 : A diamond distributor has recently decided to exit the market and has put up a set of 3,000 diamonds up for auction. Seeing this as a great opportunity to expand its inventory, a jewellery company has shown interest in making a bid. To decide how much to bid, the company’s analytics team used a large database of diamond prices to build a linear regression model to predict the price of a diamond based on its attributes. You, as the business analysts, are tasked to apply that model to make a recommendation for how much the company should bid for the entire set of 3,000 diamonds. Price = -5,269 + 8,413 x Carat + 158.1 x Cut + 454 x ClarityPredicting-Catalog-Demand
Project 1.2 : The company sent out its first print catalog last year and now its planning to send again print catalog to new 250 customers from their mailing list. Determine how much profit can company expect to earn from this. Management does not want to send the catalog out to these new customers unless the expected profit contribution exceeds $10,000. So the task is to predict the estimated profit if catalog is sent to new customers.Love Open Source and this site? Check out how you can help us