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<p>[QUOTE="Roerbakmix, post: 3839687, member: 100731"]Thanks [USER=74968]@Orfew[/USER], [USER=76086]@Ken Dorney[/USER] and [USER=94602]@pprp[/USER]. You are probably completely right: it will be almost impossible to reach safe conclusions. Generally, it is impossible to create a model that explains all variance in the data. However, both created models (example 1 and 2) predict better than pure chance alone, which is, in my opninion, interesting. Exploring the data, there are weak, moderate and even strong trends (e.g. respectively NGC =yes, grading and estimated price). So while, for example, grading is highly subjective, there is a positive and moderate correlation between grade and hammer price.</p><p><br /></p><p>I'll look into time of the year and the hammer price.</p><p><br /></p><p>Thanks for the other synonyms and tips, will add those as well.</p><p><br /></p><p>The auction house variable is methodologically difficult (it is one predictor, however with a large number of degrees of freedom), but should therefor not be discarded immediately.[/QUOTE]</p><p><br /></p>
[QUOTE="Roerbakmix, post: 3839687, member: 100731"]Thanks [USER=74968]@Orfew[/USER], [USER=76086]@Ken Dorney[/USER] and [USER=94602]@pprp[/USER]. You are probably completely right: it will be almost impossible to reach safe conclusions. Generally, it is impossible to create a model that explains all variance in the data. However, both created models (example 1 and 2) predict better than pure chance alone, which is, in my opninion, interesting. Exploring the data, there are weak, moderate and even strong trends (e.g. respectively NGC =yes, grading and estimated price). So while, for example, grading is highly subjective, there is a positive and moderate correlation between grade and hammer price. I'll look into time of the year and the hammer price. Thanks for the other synonyms and tips, will add those as well. The auction house variable is methodologically difficult (it is one predictor, however with a large number of degrees of freedom), but should therefor not be discarded immediately.[/QUOTE]
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