How Models Work?-Introduction(1)

1---I will build models as I go through following scenario:

Your cousin has made millions of dollars speculating on real estate. He's offered to become business partners with you because of your interest in data science. He'll supply the money, and you'll supply models that predict how much various houses are worth.

You ask your cousin how he's predicted real estate values in the past, and he says it is just intuition. But more questioning reveals that he's identified price patterns from houses he has seen in the past, and he uses those patterns to make predictions for new houses he is considering.

2---I'll start with a model called the Decision Tree, because:

Essential--the Decision Tree are the basic building block for some of the best models in data science.

Lucid--Decision trees are easy to understand.

Favorable--There are fancier models that give more accurate predictions.