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Abstract MainProject

This project introduces a machine learning approach to predict the resale value of used cars by analyzing factors like vehicle age and kilometers driven. The dataset is preprocessed and explored to identify key features for model training, ensuring accurate predictions. The resulting model aids car dealerships and sellers in making informed pricing decisions in the used car market.

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chekkaswathi2
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1 views

Abstract MainProject

This project introduces a machine learning approach to predict the resale value of used cars by analyzing factors like vehicle age and kilometers driven. The dataset is preprocessed and explored to identify key features for model training, ensuring accurate predictions. The resulting model aids car dealerships and sellers in making informed pricing decisions in the used car market.

Uploaded by

chekkaswathi2
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Abstract

In today’s automotive market, accurately predicting the price of second-hand cars is crucial
for buyers and sellers to make informed decisions. This project presents a machine learning-
based approach to forecasting the resale value of used cars based on various factors such as
vehicle age, kilometers driven, fuel type, seller type, transmission mode, and ownership
history.
The dataset undergoes extensive preprocessing, including handling missing values, feature
engineering (such as deriving vehicle age from the manufacturing year), and encoding
categorical variables for model compatibility. Exploratory Data Analysis (EDA) is performed
to identify correlations and patterns among features, helping in the selection of relevant
attributes for model training.
A machine learning model is then trained on the processed dataset to predict car prices
efficiently. Performance evaluation is conducted using appropriate metrics to ensure
accuracy and reliability. The proposed model serves as a valuable tool for car dealerships
and individual sellers, enabling data-driven pricing strategies and enhancing transparency in
the used car market.

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