Modelling Airbnb Listing Prices in Toronto

As the final assessment for the 2020 edition of STA 2201H: Applied Statistics II at the Univesity of Toronto, we were tasked with modelling Airbnb prices in Toronto within a Bayesian hierarchcial framework. In my analysis, I considered two setups: the first involved a simple hierarchical specification with a room type top-level and the second builds on the first by introducing variable covariate coefficients. Both models perform well though it appears the varying slopes model captures additional relevant patterns in the data. A copy of the analyses performed can be found here.