Research on Influencing Factors of Car Rental Price Based on a Linear Regression Model
DOI:
https://doi.org/10.54691/bcpbm.v34i.3133Keywords:
Linear regression; Car rental; Potential factors; Prediction.Abstract
The car rental becomes more and more prevalent as a way of road trips or daily use in the United States. Making the strategy of arranging the type and distribution of vehicles is a great challenge for car rental companies to attract customers. Linear regression is used in this study to analyze the impact of potential factors of vehicles on ratings from customers. These linear regression models are generated based on 5286 sets of data. The result shows that the type of electric vehicles, body style of SUVs, and new vehicles stimulate the increasement of the satisfaction of customers. In contrast, the body style taken has a negative relationship with customers’ ratings. Furthermore, renter trips taken has little impact on customer reflection compared to the age of vehicles. The purpose of this study is to provide a reference for companies to build proper strategies based on customer’s reviews to improve their business.
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