Method to use for independent variables

#1
Hi
I have a big set of data with N independent variables (features of a product) and one variable that depends on them (the price). I would like to create a formula to input new values for the variables and get the estimated price.
Can someone suggest what methods can I use to do this please.

Thank you!
Vlad
 

hlsmith

Not a robit
#2
New values for an existing variable? With these values being within the range of current values? So you have weights, 12, 15, 20, 34, 50 and their respective prices, Now you want to know the estimated price for a product that weighs: 16?

If so, you are looking at interpolating. You design a model, likely a multiple linear regression, then use output from the model to 'score' the new values. It is a fairly simple process. But if you have many products, you may need to model each one independently.