For each Make I will be finding:
The Median
This is the age in the middle, found by putting all the results into numerical order.
The Mean
Found by adding up all the age and dividing the result by the total number of data. This is perhaps the most precise way of achieving an average.
The Range
Found by subtracting the lowest value from the highest value
The Mode
The most common occurring age
Ford
Average price when new:
Mean:
Total = 174526
Divided by 15 (total number of data) = 11635.06667
Which can be rounded up to 2 dp, 11635.07
The Median
7310, 7875, 8680, 8748, 8785, 9105, 9995, 11800, 12125, 13183, 13230, 14505, 15405, 16000, 17780
The median is, 11800
The Range
7310, 7875, 8680, 8748, 8785, 9105, 9995, 11800, 12125, 13183, 13230, 14505, 15405, 16000, 17780
17780 – 7310 = 10470
Therefore, the range is 10470.
Mode
There is no mode, as no repetition occurs in the figures.
Depreciation
Depreciation in the Oxford school dictionary means, “make or become lower in value”, prices of cars depreciate every year as the car itself gets older and is no longer up to customer satisfaction. The value of the car may go down for the reason that the car is getting older in years. Whether if the car has done many mileage or not the car of the price will go down, using the evidence provided car number 76, a Suzuki Vitara was £10800 when new and depreciated to £2995 because of it’s age and mileage. The price of the car may also depreciate because of the service history and the owners of the car, the more owners the less the price of the car.
Rover.
Average price when new:
Mean:
Total = 155319
Divided by 10 (total number of data) = 15531.9
The Median
5495, 6645, 8595, 9565, 14486, 17795, 21586, 22980, 24086, 24086
The median is, 17795 + 14486 divided by 2 = 16140.5
The Range
5495, 6645, 8595, 9565, 14486, 17795, 21586, 22980, 24086, 24086
24086 – 5495 = 18591
Therefore, the range is 18591
Mode
The mode of these numbers is 24086, as this appears twice in the data.
Vauxhall.
Average price when new:
Mean:
Total = 149979
Divided by 12 (total number of data) = 12498.25
The Median
5599, 7440, 7840, 8900, 9795, 13435, 13510, 13740, 14325, 18140, 18580, 18675
The median is, 13435 + 13510 divided by 2 = 13472.5
The Range
5599, 7440, 7840, 8900, 9795, 13435, 13510, 13740, 14325, 18140, 18580, 18675
18675 – 5599 = 13076
Therefore, the range is 13076
Mode
There is no mode in this set of data, as no numbers appear more than once.
I am going to do a pictogram to show the number of cars using pictures.
Each one of these pictures represents 2 cars.
The information above will be put into a bar graph,
The same information will be put into a pie chart
A scatter diagram showing the Used Price of the car against its age in years:
Now, i am going to investigate the age that effects on the used price for the different makes.
Looking at the scatter diagram above I can say as the older the car was the less it costs to buy, I could say the graph showed a negative correlation. Therefore the age is a factor that affects the price of a car.
A scatter diagram showing the Used Price of the car against its Mileage:
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.