Description
Your task is to perform EDA and calculate the strength of relationships between the variables of the dataset. Consider below as a guideline:
- Your first task is to clean the dataset and prepare it for analysis by
e.g. removing/replacing NAs and incorrect values.
- Begin your analysis with a summary of the variables (use basic statistical methods). Briefly describe your understanding. Prepare 4 plots: pie chart, bar chart, histogram, scatter plot. Each plot should display different variables (do not use price variable now). Each plot must have a title and meaningful labels.
- Focus your analysis on the price variable:
- Show the histogram of the price variable. Describe it briefly. Include summary statistics like mean, median, and variance.
- Group diamonds by some price ranges (like low, medium, high, etc.) and summarise those groups separately.
- Explore prices for different cut types. You might want to use the
boxplot.
- How different attributes are correlated with the price? Which 3 variables are correlated the most with price?
- Now focus your analysis on the carat, depth, table and dimensions (x, y , z) variables:
- Compute a volume variable from x, y, z – add it to the dataset.
Plot it against the price. Describe your findings.
- Are the carat and volume attributes correlated? Is that a strong relationship? Draw a plot with regression line.
- Explore the relationships between table and depth variables.
- Now explore relationships between table and rest of other variables. Compute correlations and describe your findings.
- In your Markdown document, you should use proper headings and commentary for each task. You can get up to for style, clarity and quality of the report and the source code.
