4. What variables influence price?
Hypothesis:
For Demographics: If there are more gen x / gen y present in a region, then
the price for listings will rise.
For Reviews: If there are more reviews for a listing, then the price for a
listing will rise.
11. Analysis of price by demographic
Hypothesis: Incorrect
Evidence : Weak
R-Squared : explains 53.21% of the variation of outcomes around the mean.
Price of
Airbnb
listings
Presence of Gen
X and Gen Y
Decreased Price
Presence of Gen z,
baby boomers, and
silent increased price
15. Analysis on price by reviews slide
Hypothesis: Incorrect
Rather the price of the listing could potentially be a contributing factor
to determine the amount of reviews a listing receives.
Evidence: Fairly Strong
R-Squared: Explains very little of the Variation of outcome around mean
16. Next Steps
For Demographics:
- Overgeneralization of areas that individually would otherwise be significantly
different.
- Recent demographics data
For reviews:
-Consider outliers that may skew data for reviews
-Account for age of listings and the amount of reviews
21. 1. Capitol Hill %14.85
Total Listings: 3818
Listings per
Neighborhood Group
2. Downtown %13.38
3. Central %9.66
4. Queen anne %7.73
5. Ballard %6.02
22. HOW DOES THIS KNOWLEDGE BENEFIT
AIRBNB
POTENTIAL SOLUTIONS
Airbnb already well established amongst millennials, because the
company is built on the idea of designing for trust, maybe reach/attract
a larger demographic.
