Hey please help me if you can...
I have a statistics assignment and the first question is causing me some trouble. The question is to predict the price of a 2 bed flat versus a 4 bed house with 2 bathrooms, off street parking and a garden. I have a dataset of 86 cases along with 9 variables I can use. I have created a model using the relevant independent variables some of which I have had to make into dummies- property type, no of bedrooms, no bathrooms, garden and off street parking.
My question is how can I give an accurate prediction of the price of the flat when I don't have access to info about no of bathrooms, garden and parking. The question clearly states to use one model to predict both prices but I don't see how it is possible without just plugging values in for those variables based on common sense or guesswork.
Please help me as have conflicting ideas to that of my coursemates who have constructed a simpler model for the flat price and then expanded it to include more variables for the house price.
And actually passed?