Determination of Amazon Stock Price Using Novel LASSO Algorithm Comparing with Accuracy of Linear Regression Algorithm

P. H. Bhargav, F. Mary Fernandez

2023

Abstract

This research sought to compare the efficacy of the Novel LASSO algorithm (Group 1) and the Linear Regression algorithm (Group 2) in predicting Amazon's stock price, aiming to identify which technique offers superior accuracy. The study was bifurcated into two groups, each comprising 10 samples, wherein each group applied either the Novel LASSO technique or the Linear Regression algorithm to an extensive dataset of Amazon's all-time stock prices. Sample sizes were calculated using ClinCalc software, setting α at 0.05 and a pretest power at 0.8. The results demonstrated that the Novel LASSO technique achieved a higher mean accuracy of 85.31% compared to Linear Regression's 77.44%, a difference found to be statistically significant (p=0.046). In summary, the Novel LASSO method outperformed the Linear Regression algorithm in predicting stock prices.

Paper Citation

in Harvard Style

Bhargav P. and Fernandez F. (2023). Determination of Amazon Stock Price Using Novel LASSO Algorithm Comparing with Accuracy of Linear Regression Algorithm. In Proceedings of the 1st International Conference on Artificial Intelligence for Internet of Things: Accelerating Innovation in Industry and Consumer Electronics - Volume 1: AI4IoT; ISBN 978-989-758-661-3, SciTePress, pages 467-473. DOI: 10.5220/0012518000003739

in Bibtex Style

@conference{ai4iot23,
author={P. H. Bhargav and F. Mary Fernandez},
title={Determination of Amazon Stock Price Using Novel LASSO Algorithm Comparing with Accuracy of Linear Regression Algorithm},
booktitle={Proceedings of the 1st International Conference on Artificial Intelligence for Internet of Things: Accelerating Innovation in Industry and Consumer Electronics - Volume 1: AI4IoT},
year={2023},
pages={467-473},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0012518000003739},
isbn={978-989-758-661-3},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st International Conference on Artificial Intelligence for Internet of Things: Accelerating Innovation in Industry and Consumer Electronics - Volume 1: AI4IoT
TI - Determination of Amazon Stock Price Using Novel LASSO Algorithm Comparing with Accuracy of Linear Regression Algorithm
SN - 978-989-758-661-3
AU - Bhargav P.
AU - Fernandez F.
PY - 2023
SP - 467
EP - 473
DO - 10.5220/0012518000003739
PB - SciTePress