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  • Level: GCSE
  • Subject: Maths
  • Word count: 2771

in this investigation I will examine what factors affect how a second hand car is priced

Extracts from this document...

Introduction

Introduction: The aim of this investigation is to establish what factors are taken into concern when pricing a second hand car.

My hypothesis on this investigation is based on my acquaintance of cars and its factor’s that may influence its price. My prediction is that the mileage of a car can affect the price of it second hand. This is because the more the car has travelled in its owner’s use the more likely the price of what the car is worth decreases. Another of my calculation is that age would influence the price; this is because that the elder a car gets the more its decreases in price. Also, the engine size would affect the price because the more the car has been through the more it is used, diminishing its value.

Therefore in this investigation I will examine what factors affect how a second hand car is priced. For this first I shall first sort my data into two groups. One of which will be the popular make of a car, and the second the popular colour of a car. After grouping the cars, I shall show the results using pie charts because it will show the grouping clearly.

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Middle

8272

1500

18.14

Ford Escort Duet

9105

2300

25.26

Daewoo Lanos

9525

4395

46.14

Fiat Punto

7864

4500

57.22

Rover 620Si

17795

3400

19.1

Ford Puma

13230

8250

62.36

Fiat Bravo

10810

4995

46.2

Rover 623GSi

24086

2975

12.35

Ford Escort

13183

3495

26.51

Vauxhall Corsa

7440

3495

46.9

Peugot 306

12350

3995

32.35

Rolls Royce Silver Spirit

94651

14735

15.57

Vauxhall Vectra

13435

4995

37.18

By looking at the table I can now look at the percentage depreciation of each car to see which car out of my sampled cars has lost the most value. The car that lost the most value was the Ford Puma it decreased by 62.36%.

Now that I have found the samples I am going to use I am going to find the 2nd price of these cars.

5. £3999

10. £7499

15. £3995

20. £1759

25. £859

30. £3695

35. £1495

40. £1500

45. £2300

50. £4395

55. £4500

60. £3400

65. £8250

70. £4995

75. £2975

80. £3495

85. £3495

90. £3995

95. £14735

100. £4995

Next I shall find the age of the cars:

5.3

10.4

15.4

20.8

25.7

30.7

35.11

40.7

45.7

50.3

55.3

60.5

65.3

70.2

75.6

80.7

85.6

90.6

95.9

100.5

image09.png

image10.png

image11.png

My scatter graph has a good negative correlation meaning that as the age increases the 2nd hand price decreases. Next I will find the equation of the line of best fit. The equation for the best fit line from y on x is y =- 0.91x+8.9. The r stands for how far are the values from the mean on both x and y axis set of numbers. It is called the correlation co-efficient. The statistics box shows the mean of the 2nd hand cars (x axis) and also the mean of the age of the cars (y axis). It also shows the range of both the 2nd hand cars and the age of the cars.

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Conclusion

0

13

9001 < 10000

0

13

image05.png

image06.png

The inter-quartile range for the Ford makes is: 9.

The inter-quartile range for the Vauxhall makes is: 9. Therefore for both makes the inter-quartile range is the same. Now I shall put both of the box plots in one diagram to compare the prices for the makes:

image07.png

The box plot I have produced shows that because the Vauxhall box is shifted more to the right the 2nd hand cars have generally higher prices than Ford. Also because the median line is more to the upper quartile in the Vauxhall box this means also that Vauxhall 2nd cars are normally expensive. Whereas in the Ford box the median is more to the left meaning that Ford 2nd handcars are usually cheaper.

To conclude this investigation, second hand cars are priced with varied factors. In this investigation I evaluated 3 of those factors (mileage, engine size, age) and all of these factors had an influence on pricing a 2nd handcar. One of these factors proved my hypothesis correct by showing when the age increases so does the price. Also as the mileage increases the price decreases and lastly as the engine size increases so does the price. I have also compared the two makes (Ford, Vauxhall) which showed me that Vauxhall 2nd    hand cars are most commonly more high-priced than Ford 2nd hand cars. In conclusion my investigation shows the dissimilar affects of different factors and how one singular make compares with other makes, in general the investigation was a success!

...read more.

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