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# Investigate what influences the price of a second hand car

Extracts from this document...

Introduction

Marcus Wright

Aim

Use the information to investigate what influences the price of a second hand car.

Introduction

I’m going to find out what it is that affects the price of a second hand car.

Hypothesis

I think that the main factors in the drop of car prices are the age and mileage; this is because they give us a good indication as to what the cars price and other information could be.

Plan

I am going to prove this by making scatter graphs which compare the age and mileage with the second hand price. I have decided to only use 3 car makes, this is because there is 100 different cars with lots of irrelevant information. Therefore I will use Ford, Vauxhall and Rover because these are the most popular makes in the database.

Middle

As I was creating these graphs I realised that I would have more accurate results if I found the % depreciation and used this to compare with the age and mileage instead of the second hand price.

I found the % Depreciation by finding the new price and dividing it with the second hand price, then dividing this by the new price, and finally multiplying this by 100.

Price when new – Second hand price = Price difference

Price difference            = % Price depreciation

Price when new

I used Microsoft Excel, so this formula looked like this: -

=SUM(cell number/cell number)*100

The cell number is the cell on the spreadsheet where the prices when new and the second hand prices are for the cars used.

Conclusion

Was I correct?

My prediction was a success; the Fiat Uno’s current price is £1495. This is only a £145 difference from my prediction.

Conclusion

I think there is a strong significant relationship between age and % depreciation, and mileage and % depreciation. Engine size is also a good factor as this helped me with my prediction. I believe all of the other factors are insignificant and show no relationship, so I didn’t need to compare or use them.

Maths Coursework

Page

This student written piece of work is one of many that can be found in our GCSE Gary's (and other) Car Sales section.

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# Related GCSE Gary's (and other) Car Sales essays

1. ## used car coursework

The intercept of the line is 5823.6 and this tells us that if the used car price is �0 then the new car price will be �5823.60. Overall from looking at these scatter diagrams I have realised that the used car price is affected by different factors such as mileage, age, engine size.

2. ## What factors influence the price of a second hand car

This shows me there is positive correlation between age and depreciation, that is, as the age increases so does the depreciation and this it what I expected. On further inspection I can see there are a few values that are far from the line of best fit.

1. ## I have been given instructions to collect data for my GCSE statistics coursework and ...

Below I have randomly selected 4 cars, with their price when new and second hand, this is simply to show how the much the price of the second hand car is different to when new. If you look at the graph, you can see that the price when new is

2. ## Examine how the age of a second hand car affects its price. Also to ...

If my hypothesis is correct as the age increases the percentage should decrease. These are my 20 cars and their percentage of the price new. Car Make Model Price when Price Age % Of New number New Second Hand 1 Ford Orion 16000 7999 1 50% 61 Fiat Bravo 10954

1. ## Statistic coursework-what has the most influence on the price of a second hand car?

Compared to Mercedes, 54% of Mercedes had ran at least 20001 mileage. There is a huge difference in mileage for both brand and this is make me harder to prove my 2nd hypothesis as mileage is one of the main factors affect the second hand price of cars.

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2. ## T-Total Maths

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