Hybrid forecasting model in used car price forecasting based on stochastic algorithm

Lili Xu; Cong Tian; LinHui Liu

doi:10.1117/12.2667745

28 March 2023 Hybrid forecasting model in used car price forecasting based on stochastic algorithm

Lili Xu, Cong Tian, LinHui Liu

Proceedings Volume 12566, Fifth International Conference on Computer Information Science and Artificial Intelligence (CISAI 2022); 125663Q (2023) https://doi.org/10.1117/12.2667745
Event: Fifth International Conference on Computer Information Science and Artificial Intelligence (CISAI 2022), 2022, Chongqing, China

Abstract

With the quiet change of people's consumption habits, the used car market has been unprecedentedly prosperous and developed. However, the current second-hand car market does not have a unified price evaluation standard, which leads to frequent occurrences of wanton price listings and excessively low or high transaction prices, which create great obstacles to the transaction process and seriously affect the health and order of the second-hand car market development. This paper selects 13 index variables that affect the price of used cars and analyzes the correlation between each index and the current price of used cars. Through the random forest prediction model, GBDT prediction model and SVM prediction model proposed in this paper, the used car prices are predicted and compared. It is hoped that the research in this paper will have important significance for promoting the standardization of car pricing in the used car market.

Citation Download Citation

Lili Xu, Cong Tian, and LinHui Liu "Hybrid forecasting model in used car price forecasting based on stochastic algorithm", Proc. SPIE 12566, Fifth International Conference on Computer Information Science and Artificial Intelligence (CISAI 2022), 125663Q (28 March 2023); https://doi.org/10.1117/12.2667745

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