Optimized Hyperparameter Tuned Random Forest Regressor Algorithm in Predicting Resale Car Value based on Grid Search Method
Aruna M G, M.P. Anjana, Harshita Chauhan, Rajasekar Deepa · International Journal of Advanced Research in Science Communication and Technology · 2021
The price of a car depreciates right from the time it is bought. The resale value of cars is influenced by many factors and influences both buyers and sellers, making it a prominent problem in the machine learning field. Diverse methodologies in machine learning can help us use all the varied factors and process a large amount of data to predict the cost. For our dataset, the Random Forest Regression algorithm shows a significant increase in the prediction rate. In order to optimise the Random Forest Regressor model, best hyperparameters can be found using hyperparameter tuning strategies. On comparing Grid Search and Randomized Search, a better prediction rate is accounted for using the former. These parameters are then passed to the algorithm as hyperparameter tuning can help collect the best batch of decision trees in the random forest for the most optimised prediction rate.