(Solved): Business data analytics|jmp|tableau|excel|Create Pricing Formula for renting Airbnb in Chicago...
Task: Create Pricing Formula for renting Airbnb in Chicago.
create a new column in the data where you do a formula that would calculate all the fees together and create a "cost per day" or something that could be used to determine the spectrum of cost for each rental from least to most expensive.
Hypothesis: All areas have the same average cost?
USE DATA: Fees: (cleaning, minimum nights required, security deposit, cancellation fee)
- Use JMP Pro Excel, and Tableau
- Must perform some data cleaning (outlier analysis)
- Test correlations between data variables
- Perform appropriate statistical test (t-test, ANOVA, Regression, Cluster analysis)
Q1: Is the hypothesis true explain why in a few sentences.
Q2: Use tableau and show the areas with rentals from least to most expensive. Explain in your own words why they are expensive and why they are cheap.
Q3: If hypothesis is not true, explain why its not true in a few sentences.