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My task for this coursework was to analyse the data given to me to see what effects the price of a second hand car; I tested such ideas like, age, service history and M.P.G.

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Introduction

Coursework

My task for this coursework was to analyse the data given to me to see what effects the price of a second hand car; I tested such ideas like, age, service history and M.P.G.

The first thing I had to do was work out what the percentage price loss between the new price and the second hand price, I put my results in the table below.

Car make and Model

Price when new

Price when used

Price loss

% loss

Ford Orion

16000

7999

8001

50

Ford Escort

8785

1595

7190

82

Ford Fiesta

7875

1050

6825

86

Ford Fiesta

7310

1495

5815

81

Ford Fiesta lx

8748

1995

6753

77

Ford Escort duet

9105

2300

6805

75

Ford Escort

12125

4295

7830

65

Ford Escort

11800

4700

7100

60

Ford Fiesta

8680

3200

5480

63

Ford Focus

14505

8800

5705

39

Ford Puma

13230

8250

4980

38

Ford Escort

13183

3495

9688

73

Ford Mondeo

17780

7995

9785

55

Ford Fiesta

6590

1664

4926

75

Ford Escort

15405

3995

11410

74

Ford Escort

9995

2995

7000

70

From this I found out that Ford cars lose so much  % when comparing the new car prices with the used car prices. The first things that I thought to test were the age against the %lost and see if there is any correlation between these two,

Car Model

age

Ford Orion

1

Ford Escort

7

Ford Fiesta

8

Ford Fiesta

11

Ford Fiesta lx

7

Ford Escort duet

7

Ford Escort

5

Ford Escort

5

Ford Fiesta

4

Ford Focus

2

Ford Puma

3

Ford Escort

7

Ford Mondeo

4

Ford Fiesta

10

Ford Escort

5

Ford Escort

6

...read more.

Middle

77

Ford Escort duet

7

64000

1.4

75

Ford Escort

5

29000

1.4

65

Ford Escort

5

34000

1.8

60

Ford Fiesta

4

27000

1.8

63

Ford Focus

2

7200

1.6

39

Ford Puma

3

34000

1.4

38

Ford Escort

7

43000

1.8

73

Ford Mondeo

4

30000

2

55

Ford Fiesta

10

37000

1

75

Ford Escort

5

57000

1.9

74

Ford Escort

6

64000

1.3

70

To test to see if these have any effect on the overall percentage loss I had to compare them with the %loss column. I plotted them on a scatter graph to see if there was any correlation and I found out that there is a slight negative correlation between the %loss and the engine size, the bigger the engine the less money lost from the original price. I also plotted the mileage against the %loss and I found that there is a positive between the amount of miles done and the value that the car decreases. image01.png

From my research so far I have found out that the age and the mileage effects how much the car losses in value. The bigger the age or mileage the more the value is decreased in a second hand car.

After doing these scatter graphs I decided to test to see if the M.P.G (miles per gallon) would effect the price loss, to do this I had to work out the average M.P.G from a range of results.

Car Model

% loss

M.P.G

average M.P.G

Ford Orion

50

25-47

36

Ford Escort

82

39-54

46.5

Ford Fiesta

86

45-62

53.5

Ford Fiesta

81

32-50

41

Ford Fiesta lx

77

45-62

53.5

Ford Escort duet

75

28-47

37.5

Ford Escort

65

28-47

37.5

Ford Escort

60

29-46

37.5

Ford Fiesta

63

47-68

57.5

Ford Focus

39

31-51

41

Ford Puma

38

29-46

37.5

Ford Escort

73

29-46

37.5

Ford Mondeo

55

24-44

34

Ford Fiesta

75

45-60

52.5

Ford Escort

74

29-46

37.5

Ford Escort

70

39-54

46.5

...read more.

Conclusion

2

41-50

1

0-50

3

51-60

2

0-60

5

61-70

3

0-70

8

71-80

5

0-80

13

81-90

3

0-90

16

91-100

0

0-100

16

When plotting the cumulative frequency graph we can find out the medium % loss for the Ford company and not just one car, this an be compared with another company to find out which make holds its value the best and this will help use to find out if the make of a car affects its second hand price

image04.png

This graph shows that the average % loss for a typical Ford car is 70%n and that the inter quartile range is 22; this is done by taking the lower quarter of the graph from the high quarter of the graph. This becomes useful when comparing as it allows us to see if a certain model of car keeps the value better then another. Another figure that is useful when comparing two makes of cars together is annual % loss as this can show which company losses the most % in value in each year.

% loss

age

Annual price loss

50

1

50

86

7

12.28571429

81

8

10.125

63

11

5.727272727

75

7

10.71428571

77

7

11

74

5

14.8

70

5

14

73

4

18.25

65

2

32.5

60

3

20

82

7

11.71428571

75

4

18.75

39

10

3.9

38

5

7.6

55

6

9.166666667

From this table we can work out that an average Ford loses 15.07% each year and when compared to another car manufacturer we can see if Ford is a reason why cars lose value when it becomes second hand.

...read more.

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