Are Used Cars More Sustainable? Price Prediction Based on Linear Regression

Abstract

Currently, owning a car is a necessity, as it plays a significant role in human transportation for different purposes such as going to work and to the hospital. However, with the current economic challenges, buying expensive cars can be a burden. The car market has shifted toward more affordable used cars. Due to the increasing number of used cars being sold, the price of used cars has become a major issue that could affect our sustainable way of living. The objective of this research is to understand the impact of the problem and to find empirical solutions by implementing a variety of machine learning techniques and big data tools on the prices of used cars. Thus, we develop a linear regression model that can estimate used car prices based on various features to answer the following research questions: (R.Q.1) How significantly does an independent feature in the dataset affect the dependent variable (car price)? (R.Q.2) Is a linear regression model effective for prediction of used car prices? (R.Q.3) How does prediction of used car prices support sustainability? Finally, we present our results in the form of answers to these questions, including some limitations and future research.

Motivation Behind Second Hand Product Buying: Is the development of Sustainable Consumption?

“…The motivation building among consumers regarding SHP was environmental concerns too and found one of the key motivators behind SHP buying. Studies revealed that consumers buying products from second hand shops are more concern about environment, consumer become more concern about environment because of the societal pressure and governmental regulations such as buying second hand cars [14]. The current study focuses on the motivation/intention of different income group consumers while buying SHP.…”

“…It has been researched that cars 90s are more fuel efficient and the resources that was used was of good quality rather than the material now a days used. Another reason behind buying of second-hand cars are batteries operated are bad for environment and to maintain the practice of 3Rs (reduce, reuse, and recycle) [14].…”

Does the Financial and Innovation Performance of European and Asian–Oceanian Companies Coincide with the Targets of the Green Deal?

“…Innovation that is sustainable, clean, and advanced has a significant impact on achieving these goals [7]. Innovation means a better technological solution that more effectively meets the needs of society [8,9].…”

“…Promoting clean energy in companies' activities is a priority in the implementation of the Green Deal. The energy sector and road transport [8] are the largest consumers of fossil fuels, so fundamental reforms are particularly important. Solar power plants, heat pumps, solar collectors, cogeneration power plants, storage tanks, electric vehicles, green cars, and vans [9] are necessary as a basis for companies to achieve clean energy, but this still requires strategic solutions, financial resources, and the availability of innovations (i.e., research and experimental expenditures).…”

A study of the price situation of sailboats based on a comprehensive evaluation model

“…The market for used sailboats is growing rapidly and research on the market is constantly evolving [1]. Due to the increasing number of used sailboats being sold, the price of used sailboats has become a major issue that could affect our sustainable way of living [2]. As the price of brand-new sailboats is unaffordable for most sailing enthusiasts, the size of the used sailboat market is rapidly expanding.…”