Learn how to train a data-driven model to categorize mobile phone price ranges efficiently, using technical and sales data. Create accurate price labels for effective market segmentation.
Table of Contents
Question
Your company created a new mobile phone. You need to define a price range (0 – low cost to 3 – very high cost) for the phone. You collected technical and sales data for the phones on the market. Now you are ready to train your model. Here is your train dataset:
What will be the label for this model?
Answer
Price Range
Explanation
The label is a generic name for the model output value or class. In our case, we are predicting the price range category that a new phone belongs to. The “Price range” column is our label.
All other options are incorrect because these columns are inputs or features for the model.
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