Project Insight: Airbnb $($Exhibit $12\mathrm{.}2)$ is an online marketplace that connects people who would like to rent an available room $($or home$)$ from someone who owns a room or home. Airbnb is the broker, or intermediary, that matches those wishing to rent with those who have the accommodations. Airbnb offers listings in over $81,000$ cities in $191$ countries and has about $150$ million users.$*$

Daniel Krason$/$Shutterstock

Exhibit $12\mathrm{.}2$

In this assignment, we do not give you the same level of detailed lab instructions found in the rest of this textbook. Instead, we provide general directions. From there, you decide what needs to be done and the best ways to perform the analysis.

Specify the Question: There are many potential questions, but the general question we want to answer is "What predicts the price for a nightly Airbnb rental in New York City?"

Imagine that you're a homeowner in New York City and you are trying to decide how to set prices for a nightly