Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 45 , 01 December 2023
Open
Access | Article
Study of Factors in the Price of Diamonds
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Abstract
In recent years, the price of diamonds has fluctuated significantly. This article mainly studies the factors that affect the price. This article mainly uses linear regression and random forest to calculate the coefficients between prices and influencing factors, and determines the degree of impact between them by comparing their sizes. In addition, the histogram analyzes whether there is a relationship between cutting clarity color and price. However, the relationship between cutting and diamond prices is not so strong. Finally, it is concluded that the weight of the price table, as well as the length and width of the table have a significant impact on the diamond price. When purchasing diamonds, the conclusions of this article can be used to determine whether the characteristics of various aspects of the current purchase price are directly proportional to the price they sell to ensure that consumers do not enter this diamond scam.
Keywords
random forest, linear regression, diamonds prices, box plot
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-137-7
- ISBN (Online)
- 978-1-83558-138-4
- Published Date
- 01 December 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/45/20230274
- Copyright
- 01 December 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited