Comparative Evaluation of Machine Learning Models for Mobile Phone Price Prediction: Assessing Accuracy, Robustness, and Generalization Performance

These days, mobile phones are the most commonly purchased goods. Thousands of new models with improved features, designs, and specifications are released yearly. An autonomous mobile price prediction system is required to assist customers in determining whether or not they can afford these devices. Many machine learning models exhibit varying performance degrees based on their architecture and learning properties. Ten widely used classifiers were assessed in this study: Logistic Regression (LR), Random Forest (RF), K-Nearest Neighbor (KNN), Support Vector Machine (SVM), Extreme Gradient Boosting (XGBoost), Decision Tree (DT), Naïve Bayes (NB), Linear Discriminant Analysis (LDA), AdaBoost, and Light Gradient Boosting (LGB). The F1-score, recall, accuracy, and precision of these models were evaluated. According to the findings, the results indicated that LR, with its use of the Elastic Net parameter, outperformed the others with 96% accuracy, 97% precision, 94% recall, and 96% F1-score. Other models like XGBoost, LGB, and SVM also showed strong performance, whereas KNN had the poorest performance. The study highlights the importance of selecting the appropriate model for accurate mobile price prediction. Among all the machine learning used in this paper, the LR classifier outperforms the other state-of-the-art models because of the elastic Net parameter used for mobile phone price prediction.