Determining the Best Model among Candidate Machine Learning Models for Chicago Suburb House Price Data

Abstract

With the development of the society, there is an increasing need of predicting the house price in order to purchase properties economically. Myriads of machine learning methods have been developed to achieve this goal. In this paper, we narrow our focus on three types of machine learning methods-Linear Regression, Polynomial Regression, and Neural Network (Multilayer Perceptron Regressor) and train all of them on Chicago suburb house price dataset and employ all of them to make predictions. Performance is evaluated using mean squared error (MSE) and R square (R2) metrics. Preliminary experimental results demostrate that Neural Network outperforms the other candidate methods in all cases. Polynomial Regression of degree 2 outperforms Linear Regression in most cases but performs arbitrarily bad in worst cases. Therefore, Neural Network (MLP Regressor) is the best method for predicting Chicago suburb house price.