Predicting numbers through regressions

For this tutorial, you will assume the—somewhat—enviable role of a real estate agent based in Rome, Italy. The company you work for owns multiple agencies specialized in rentals of properties located in the broader metropolitan area of the Eternal City. Your passion for data analytics got you noticed by the CEO: she asked you to figure out a way to support agents in objectively evaluating the fair monthly rent of a property based on its features. She noticed that the business greatly suffers when the rent set for a property is not aligned with the market. In fact, if the rent is too low, the agency fee (which is a fixed percentage of the agreed rent) will end up being lower than what it could have been, leaving profit on the table. On the other hand, if the ask is too high, revenues for the agency will take longer to materialize, causing a substantial impact on the cash flow. The traditional approach to set the monthly rent for new...