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  • Level: GCSE
  • Subject: Maths
  • Word count: 1815

The aim of this coursework is to find out what the different factors are that affect the value and price of different cars

Extracts from this document...

Introduction

Maria Fisher

Statistics Coursework: Used Car Sales

Aim:

The aim of this coursework is to find out what the different factors are that affect the value and price of different cars.

Hypothesis:

Different things affect the prices of second hand cars. The age of the car affects the price because if it is older then the engine and tyres etc. will be worn out. Also the mileage of a car will also decrease the price because of the same reasons. The higher the mileage the more the car has been used. The size of the car engine will increase the price because the bigger the engine the faster the car will go. More money is usually paid for this feature.

I think that an old car will be low in price but the make of the car could possibly change and make it higher or lower because more is paid for some makes of cars. So different makes of car will affect all of my graphs. If they do then they will probably be removed in the summary of data or in the outliers.

Cars that have extras, like air-conditioning, airbags and central locking etc.

...read more.

Middle

2: 5-7

3: 8-10

4: 11-13

Summarise and Interpret Data

This graph shows that the higher the mileage the lower the price of a car. It shows moderate negative correlation. The equation of the graph is y=-0.0775x+7876.1. It is appropriate and it can be used to predict the price of the car depending on the mileage. The mean of the data is 43,753 miles. The median is 43,000 miles. The lower quartile is 27,000 miles and the upper quartile of the data is 55,000 miles. These were found using Excel. The inter quartile range for this data is 28,000 miles.

In this data there are 12 outliers. Theses are found by using the equations:

LQ - 1.5 x IQR and

UQ + 1.5 x IQR

In this case it means that the outliers are less than 15,000 miles and over 97,000 miles.

Outliers

Car

Price

Mileage

Rover Club

£14,999

2,000

Fiat Bravo

£6,795

3,000

Volkswagen Polo

£7,550

5,000

Volkswagen Beetle

£13,500

6,500

Ford Orion

£7,999

7,000

Ford Focus

£8,800

7,200

Honda Civic

£7,995

9,500

Fiat Punto

£4,500

13,000

Mercedes A140 Classic

£10,999

14,000

Daewoo Nubira

£6,895

14,730

Renault Clio

£1,495

98,000

Audi 80

£3,995

103,000

These outliers will be removed to make the data more accurate.

A grouped frequency table has been drawn to sort the data. It will then be used to draw a cumulative frequency graph.

Miles (in thousands)

15-22

23-30

31-38

39-46

47-54

55-62

63-70

71-78

79-86

87-94

95-97

Frequency

8

9

12

8

19

7

7

6

1

2

2

Cumulative Frequency

8

17

29

37

56

63

70

76

77

79

81

...read more.

Conclusion

To improve my coursework I could gather more data to make everything more accurate and give me a better example of how prices in second hand cars decrease. Also I could do extra comparisons and more analysis of different variables.

I also decided to see if the number of owners that a car has had will affect the price.

image00.png

1 previous owner: drop of 53.43%(2d.p)

2 previous owners: drop of 65.72% (2d.p)

3 previous owners: drop of 79.69% (2d.p)

4 previous owners: drop of 82.14% (2d.p

This graph shows that the amount of previous owners does affect the price decrease. The more owners the car has had the more the price drops. At first the price decreases by around 12% or 13% but then it begins to slow down and the decrease from 3 owners to 4 owners is only 2.45%. I predict that if I collected extra data and found cars that had more owners then the price decrease would still rise but at a slower rate.

Maths Coursework

...read more.

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