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  • Level: GCSE
  • Subject: Maths
  • Word count: 3064

Math Coursework- Used car prices

Extracts from this document...

Introduction

Year 11 Math Coursework- Used car prices

In this coursework I’m trying to find out the difference on the prices of a second hand car, a list of cars is given factors in different categories with the information of the cars’ original and second hand prices, details such as the size, the history and other small information. These factors affect their original prices and their second hand prices; I must first separate these to find what main factor affects the price dramatically. This should first be done by cataloging them.

There are a lot of different makes and ages of cars listed, I’m going to separate the list of makes first:

Mercedes, Vauxhall, Nissan, Renault, Rover, Fiat, BMW, Daewoo, Toyota, Volkswagen, Seat, Hyundai, Citroen, Bentley, Lexus, Peugot, Honda, Landrover, Porche, Suzuki, Audi, Rolls Royce, Mitsubishi, Ford

There are 24 different makes of cars listed, it would be hard to compare each make separately, as well as there are different models for each make, therefore, I should compare the cars that are in the same make first to find out what influence tare there to the second hand price. I’m using Mercedes as a stratified sample and concentrate on the cars’ original and second hand price first.

Make

Model

Price when new

Price

Age

Mileage

Mercedes

A140 Classic

14425

10999

1

14000

Mercedes

Elegance

26425

17500

2

22000

Mercedes

AvantGarde

17915

11750

2

17000

...read more.

Middle

2

17000

n/a

Volkswagen

Beetle

14950

13500

1

6500

n/a

Landrover

Discovery

27855

13995

1

40500

n/a

Rover

Club

19530

14999

1

2000

n/a

Mercedes

Elegance

26425

17500

2

22000

n/a

Average

9898

14888

The table shows that all the cars with N/A MOT are all below 2 years of age and that their mileage is average of 14888, from earlier investigation, we learn that low mileage of cars means still relatively high second hand prices. All the cars are still quite mechanically reliable, which suggest that their second hand prices are still relatively high, with the average of £9898, this shows that n/a or low length of Mot means the second hand price of cars are still quite expensive.

MOT, mileage and year of the car shows that second hand prices will drop from their original price a lot more when length of these factors are long (as few examples shown below)

Make

Model

Price when

Price

Age

Mileage

Vauxhall

Corsa

8900

4995

7

7

Fiat

Punto

8601

3995

9

9

Rover

114 Sli

8595

2495

8

8

With comparison with the MOT of N/A cars, these above cars have shown that their second hand prices have dropped consistently as they are older and with more mileage and higher MOT. From all this we can prove at the moment that the age, mileage and MOT of the cars have the same affect on the second hand prices of the cars, these factors affect the quality and mechanic reliability of the car, which causes its second hand price to dropped. I shall investigate the rest of the factors that affects the mechanics of the car to see if they influence the second hand prices as well, these will be the engine, fuel, MPG, central locking, gearbox and airbags.

I will first look the actual mechanics factors that affects the cars’ performances when driving first to determine whether they affect the second hand prices, these are the fuel, engine, gearbox and MPG. I have filtered all the rest of the data except all those mentioned in this paragraph and the cars’ original and second hand prices. I will also randomly select a make of a car since there are too many different makes of the car to find out their differences in MPG etc, so I’ve selected Ford randomly and use it to find out about the fuel, engine, gearbox and MPG.’s relationship with the second hand price.

Make

Model

1st Price

2nd Price

Engine

Fuel

MPG

Gear- box

Ford

Orion

16000

7999

1.8

unleaded

25-47

5

Ford

Escort

8785

1595

1.3

unleaded

39-54

5

Ford

Fiesta

7310

1050

1.1

unleaded

45-62

4

Ford

Fiesta

7875

1495

1.8

unleaded

32-50

5

Ford

Fiesta LX

8748

1995

1.1

unleaded

45-62

5

Ford

Escort Duet

9105

2300

1.4

unleaded

28-47

5

Ford

Escort

12125

4295

1.4

unleaded

28-47

5

Ford

Escort

11800

4700

1.8

unleaded

29-46

5

Ford

Fiesta

8680

3200

1.8

diesel

47-68

5

Ford

Focus

14505

8800

1.6

unleaded

31-51

5

Ford

Puma

13230

8250

1.4

unleaded

29-46

5

Ford

Escort

13183

3495

1.8

unleaded

29-46

5

Ford

Mondeo

17780

7995

2

unleaded

24-44

auto

Ford

Fiesta

6590

1664

1

unleaded

45-60

4

Ford

Escort

15405

3995

1.8

diesel

29-46

5

Ford

Escort

9995

2995

1.3

unleaded

39-54

5

1132.25

4113.9

1.525

...read more.

Conclusion

12590

4300

black

Ford

Focus

14505

8800

black

Toyota

Corrolla

13800

7495

black

Ford

Orion

16000

7999

black

Nissan

Micra

7995

3999

blue

Daewoo

Lanos

9525

4395

blue

Renault

Megane

13610

4999

blue

Volkswagen

Polo

9960

7550

blue

Vauxhall

Astra

13740

2900

blue

Ford

Mondeo

17780

7995

Cuirass

Fiat

Punto

8601

3995

gold

Fiat

Bravo

10810

4995

green

Fiat

Tipo

8272

1500

green

Honda

Civic

12895

7995

green

Rover

623 Gsi

22980

6999

green

Citroen

AX Diesel

7680

1295

grey

Rover

Club

19530

14999

grey

Nissan

Primera

13355

2574

grey

Vauxhall

Tigra

13510

7499

marine

Fiat

Uno

6864

1495

red

Mercedes

A140 Classic

14425

10999

red

Fiat

Bravo

10351

3495

red

Rover

114 Sli

8595

2495

red

Fiat

Bravo

10954

6795

red

Vauxhall

Corsa

8900

4995

silver

Seat

Ibiza

5995

795

silver

Peugot

206

9125

7500

silver

Daewoo

Lanos

11225

5999

silver

Mercedes

AvantGarde

17915

11750

silver

Fiat

Cinquecento

6009

1995

white

Nissan

Micra

6295

1795

white

Nissan

Micra

5340

1595

white

Ford

Escort

12125

4295

white

Nissan

Sunny

7799

2595

white

The average price for:

Black- 6018image00.png

Blue-4769

Cuirass - 7995

Gold -3995        

Green- 5372

Grey- 6289

Marine- 7499

Red- 5056

Silver-6208

White- 2420

Conclusion

From this I can instantly infer that other factors such as no. of doors and style of cars does have influence on the second hand prices, however as proven earlier that not only a single factor can affect the second hand prices of the car, but different factors can both lower or raise the price, also, as there are so much different models and makes of cars, it is hard to determine exactly how much influence are there in each factor to prove exactly how much they affect the prices. From all this information though I can summarize that mileage, insurance and colour- physical appearance of the car definitely have a more dramatic influence on the 2nd hand prices than other factors such as airbags or type of fuel. However, factors such as mileage relates to the age and length of MOT of a car, these factors relate and give the same results to the cars’ price, so these cannot be compared.

Overall from this, I have found out that what influence the second hand price the most is the insurance, as it is has the most positive correlation, but mechanics and appearances factors also influence a lot.

By Sean Bradley

...read more.

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