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  • Level: GCSE
  • Subject: Maths
  • Word count: 2677

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

Extracts from this document...

Introduction

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

Introduction

The aim of this coursework is to investigate what factors influence on the price of a second hand car. There are many factors, which can influence on the price of a secondhand car. Such as cost when new, mileage, age, engine size etc. I chose to use mileage, cost when new, and make for this piece of coursework. The reasons I had chosen these three factors are many previous statistics collected by other people state that the cost when new, mileage and make of cars affect its price the most. As a result, I want to investigate these factors to see is it true or not therefore other factors like engine size and color would not be one part of the investigation.

I will use data provided by the exam board, as its reliability is high. With the data, I will try my best to analyze and investigate any possible correlations between them and the other factors.

Hypotheses

  1. Will the mileage increases, the price decreases
  2. Will Mercedes depreciates slower in value than ford

Method

The exam board has provided me a database of 204 cars to help me in this investigation.

...read more.

Middle

Ford

22000

1999

16385

3335

52

Ford

64000

2000

15267

5570

53

Ford

71000

1995

20570

1055

54

Ford

12500

1998

13520

2330

55

Ford

10000

1998

19990

4470

56

Ford

60000

1995

17170

1035

57

Ford

10000

1995

18745

3885

58

Ford

60000

1996

26380

4560

59

Ford

10000

2000

25597

8990

60

Ford

10000

2002

9450

5050

61

Ford

60000

1996

13820

1365

62

Ford

10000

1995

19310

4380

63

Ford

10000

2000

12000

4615

64

Ford

12500

2001

20980

10555

65

Ford

10000

2002

12295

7560

66

Ford

10000

1995

12255

690

67

Ford

12500

2002

10470

5910

68

Ford

10000

1997

26070

4715

69

Ford

10000

1998

12490

4290

70

Ford

10000

2001

21980

7985

71

Ford

12500

2002

16397

8595

72

Ford

10000

2000

18995

9715

73

Ford

10000

1997

18765

1470

74

Ford

10000

2003

18045

11930

75

Ford

10000

2002

21245

12370

76

Ford

10000

2000

8250

2670

I have chosen Ford and Mercedes for this coursework. The reasons are Mercedes and Ford is in different position in the market. Mercedes is in the higher tier and Ford is in the lower tier. Therefore, I can see a significant rate of depreciation in price on different brands and prove my second hypothesis.

In order to choose my sample of 38 cars for each make (Ford and Mercedes) I need to choose a fair sampling method that helps me to avoid bias. I used cluster sampling because the data is already in groups, which are the makes of cars. Consequently, I could randomly pick two groups for my investigation for this coursework. I could choose systematic sampling or stratified sampling but I did not choose to use both of them. If I chose systematic sampling, I will not get enough cars for the sampling, which is not good.  

Mileage

Number of cars

0 to 20000

17

20001 to 40000

2

40001 to 60000

7

60001 to 80000

4

80001 to 100000

7

100001 to 120000

1

Total

38

Mercedes- mileage

Mercedes- secondhand price

Secondhand price (GBP)

Number of cars

0 to 5000

7

5001 to 10000

4

10001 to 15000

14

15001 to 20000

7

20001 to 25000

2

25001 to 30000

3

30001 to 35000

1

...read more.

Conclusion

Evaluation

In my opinion, I could improve few things in this coursework. For instance, I could gather some primary data since I know how were they obtained and accuracy is known. This helps to improve the accuracy and avoid bias. However, I did not use primary data because it is time consuming. As a result, I used secondary data only, which had negative and positive aspects about it. The reason I chose to use secondary data is the exam board provides it. In other words, the reliability of the data is good. Additionally, I could introduce other cars from different make to my population to make it more representative and reliable.

Moreover, I should consider color of cars as well because colors are the major factor, which affects the appearance of the cars. This factor is affecting the price of second hand cars directly since some colors may be more popular than other colors. Such as black is more popular than pink. This would worth me to investigate because it is interesting and the result might be different. Overall, I am satisfied of the work I had done since I have proven my hypotheses without bias and no outliers’ event happened during the investigation.

...read more.

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