You have been hired as a data scientist at Discount Motors, a used car dealership in the UK. The dealership is expanding and has hired a large number of junior salespeople. Although promising, these junior employees have difficulties pricing used cars that arrive at the dealership. Sales have declined 18% in recent months, and management would like your help designing a tool to assist these junior employees.
To start with, they would like you to work with the Toyota specialist to test your idea(s). They have collected some data from other retailers on the price that a range of Toyota cars were listed at. It is known that cars that are more than £1500 above the estimated price will not sell. The sales team wants to know whether you can make predictions within this range.