Question
You are hired by a company Gem Stones co ltd, which is a cubic zirconia manufacturer. You are provided with the dataset containing the prices
You are hired by a company Gem Stones co ltd, which is a cubic zirconia manufacturer. You are provided with the dataset containing the prices and other attributes of almost 27,000 cubic zirconia (which is an inexpensive diamond alternative with many of the same qualities as a diamond). The company is earning different profits on different prize slots. You have to help the company in predicting the price for the stone on the bases of the details given in the dataset so it can distinguish between higher profitable stones and lower profitable stones so as to have better profit share. Also, provide them with the best 5 attributes that are most important.
Data Dictionary:
Variable NameDescriptionCaratCarat weight of the cubic zirconia.CutDescribe the cut quality of the cubic zirconia. Quality is increasing order Fair, Good, Very Good, Premium, Ideal.ColorColour of the cubic zirconia.With D being the best and J the worst.Claritycubic zirconia Clarity refers to the absence of the Inclusions and Blemishes. (In order from Best to Worst, FL = flawless, I3= level 3 inclusions) FL, IF, VVS1, VVS2, VS1, VS2, SI1, SI2, I1, I2, I3DepthThe Height of a cubic zirconia, measured from the Culet to the table, divided by its average Girdle Diameter.TableThe Width of the cubic zirconia's Table expressed as a Percentage of its Average Diameter.Pricethe Price of the cubic zirconia.XLength of the cubic zirconia in mm.YWidth of the cubic zirconia in mm.ZHeight of the cubic zirconia in mm.
Inference: Basis on these predictions, what are the business insights and recommendations
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