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  • Level: GCSE
  • Subject: Maths
  • Word count: 1167

Investigate what affects the price of a used car.

Extracts from this document...

Introduction

Sophie Lakes

Introduction

For my maths coursework, I have been asked to investigate what affects the price of a used car. I have been given information on 100 cars. On each car I have details of its

  • Make (e.g. Ford)
  • Model (e.g. Fiesta)
  • Colour
  • Price when new
  • Current price
  • Age
  • Colour
  • Engine
  • Petrol Type
  • MPG
  • Mileage
  • History         
  • Service?
  • Number of owners
  • Length of MOT
  • Tax (months)
  • Insurance group
  • Doors
  • Style
  • Central Locking
  • Seats
  • Gearbox
  • Air conditioning?
  • Airbags?

In the information there are 26 different brands of car.

Hypothesis

The value of a car decreases exponentially with age

By decreasing exponentially I mean that in a graph of a certain type of car, with age along one axis and its value along the other, a downward curve would be seen, for example:

image00.png

Plan

The factor that I am first going to investigate, as I believe it to be the most important factor affecting the selling price of the car, is the age. As there is a lot of

...read more.

Middle

image01.pngimage01.pngimage01.pngimage01.pngimage01.pngimage01.png

image01.pngimage01.pngimage01.pngimage01.pngimage01.pngimage01.pngimage01.pngimage01.png

image01.pngimage01.pngimage01.pngimage01.pngimage01.png

image01.png

                        Each one of these pictures represents 2 cars.

Type of car

Tally

Frequency

Ford

||||| ||||| |||||

15

Vauxhall

|||||

|||||

||

12

Rover

|||||

|||||

10

The information above will be put into a bar graph,

image02.png

The same information will be put into a pie chartimage03.png

A scatter diagram showing the Used Price of the car against its age in years:

Now, i

...read more.

Conclusion

A scatter diagram showing the Used Price of the car against its Mileage:

Used Car Price (£)

Mileage

4295

29000

4700

34000

3200

27000

2975

96000

3400

66000

6995

35000

8800

7200

8250

34000

13500

6500

2975

96000

7550

5000

3495

43000

7995

30000

3685

64000

4976

21000

3495

55000

1664

37000

4693

50000

6995

63000

1995

5200

3995

57000

3191

43000

2995

64000

4995

52000

7999

7000

7999

20000

6595

30000

6999

30000

7499

27000

6499

49000

4995

24000

3795

51000

2495

33000

895

43000

1000

75000

400

None shown

3695

49000

1700

55000

1050

90000

1495

74000

1995

60000

2300

64000

2900

58000

image05.png

I can see from this graph that there is very little correlation between mileage and age.  Therefore this is not the most prominent factor affecting the price of a second hand vehicle.

Conclusion.

In conclusion, the price greatly drops, in relation to the age of the car, the older the car, the cheaper it is to buy. The price is also determined by the mileage, but as greatly as by the age. All cars show this data, but it is more prominent in some than others. The price depreciates quite dramatically for the first three years, and then gets less and less as it continues to drop in value. For more proof of this see the graphs and tables I have made above.

...read more.

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