Assessment of ridge regression-based machine learning model for the prediction of automotive sales based on the customer requirements

The primary objective of the paper is to predict the price of the “Toyota Cars” based on the requirement of the customer. The primary need is to identify the minimum price of the “Toyota Cars” based on the 37 key attributes/factors. The levels of each factor in the data set varies from 2 to 312, moreover the data sets used for the analysis, contain both feature as well as numerical based data. The data sets are taken from the “KAGGLE” an open-source real time data provider. The total number of data available for the analysis is 1442, since the data are large and the factors are more with different levels, the prediction done using the Machine Learning (ML) approach. Ridge regression, a supervised machine learning algorithm is used to predict the sales price of the “Toyota Cars”, thereby identifying the minimum price based on different combinations of attributes. The prime novelty lies on the usage of the Ridge regression, a linear regression algorithm for the prediction process. The ridge regression model was developed by means of the Python programming and Google Colab, an open-source online compiler for the ML was used for the code compilation process. Based on the result, the minimum price was found to be 6520.8 dollars, with the basic customer requirements such as Model: Corolla 1.6-16v, Type: Sedan, 4 Doors, CNG, 69hp, 1854 cc, with air conditioner, centre lock and power steering.