Cost Analysis
In this section, our objective is to understand the effect of cost on event attractivenss. We will use two approaches: hypothesis testing and association rules. We will first identify the linear relationship between cost and attractiveness, adding other variables if necessary, then look at specific associations between these variables to further understand how cost affects event attractiveness.
Hypothesis Testing
In this section, we will use linear regression models to look at the relationship between event cost and event attractiveness. We will try a few linear models and bring in other reasonable variables along the way, if they add to the story.
In these hypothesis tests, we see that cost along has no significant correlation with event attractiveness, but when event category and district are taken into consideration, we can see that cost becomes a significant predictor for attractiveness, the higher the cost, the lower the attractivenss.
To visualize this, consider the 3-D plots below.
These plots show cost and event attractiveness by districts. We can see that in some districts, the higher the cost, the lower the attractiveness (e.g. Midtown South Central), whereas in other districts, the higher the cost, the higher the attractivenss (Stuyvesant Town).
Similarly, we can visulize the relationship between cost and event attractiveness color coded by event category.
This plot shows cost and event attractiveness by event category. We can see that in most categories, attractive events have lower costs, except maybe for festive-fairs or charity types of events.
Association Rules
Finding 1:
"0.0", "Lower East Side", "Bedford-Stuyvesant", "performing-arts", "boring".Events that are free of cost, that happen on the lower east side or Bedford-Stuyvesant district, are usually about performing arts and are not high on attractiveness.
Finding 2:
"100", "koreatown", "visual-arts", "boring".Visual-arts events in Koreatown that cost 100 dollars are not attractive.
Finding 3:
"7", "east village", "film".Events that cost 7 dollars in the east village district are about films, but this rule informs us nothing about the event attractiveness.