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This study employs Multiple Linear Regression methodology to examine the primary determinants that impact the price of used sailboats. These determinants encompass both intrinsic characteristics of the sailboats and Regional Effects. Materials and Methods: By utilizing data acquired from online sources, we can construct a Multiple Linear Regression model for the purpose of forecasting the pricing of used sailboats. Following the data cleaning and preparation procedures, the application of Correlation Analysis enabled the identification of pivotal factors. Additionally, the utilization of K-Means Clustering facilitated the selection of a subset of the sample data specifically pertaining to used sailboats. Subsequently, the potential influences of regional elements on sailboat prices were hypothesized and elucidated through the utilization of Multi-factor Analysis of Variance. The model is optimized based on a regional examination of Hong Kong. Results: The make, length, year, beam, and draft of used sailboats are just a few factors that affect their price. The price of a region is influenced by various geographical elements, including its GDP, water area, and tax rate. The results of the Error Analysis indicated that the model had a significant level of accuracy, surpassing 0.85. Conclusion: The results of this study indicate that the optimized Multiple Linear Regression model has a notable level of accuracy, minimal bias, and a satisfactory fit when employed for the purpose of predicting the pricing of used sailboats. © 2023 IEEE.
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Year: 2023
Page: 344-348
Language: English
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ESI Highly Cited Papers on the List: 0 Unfold All
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30 Days PV: 1
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