I just want to check in and see if my expectations of Predictive Models is right or if I should be pursuing an different approach ? I’m trying to create a tool that I can use to estimate the average sale price of an item sold at online auction.
I have a sheet Results with Items sold at auction and their sale price. Feeding that into a PM then using the Results_Form I can type in a items description (Lot Title) and get back it’s Prediction.
Is this prediction the equivalent to an Average or something else ? If not should I pursue another approach ?