Factor 3
The age of the car I also feel will have an influence on the car’s price, obviously if the car is older the price depreciation will be higher, if the car is newer the price depreciation will be lower.
Plan
Out of 100 cars that were given to me, I’d randomly select 36 cars. I’d select 36 because than later when the pie charts would need to be drawn it would be easier to work out the angles.
There may be a need to research extra data if there is need to make the investigation fair, accurate and not bias.
After selecting the data I’d decide upon the points in my hypothesis, and made sure they were suitable and in relation with the investigation. Simple factors were also decide upon that would need to be considered and would influence a cars price.
A hypothesis will be made for each factor that was chosen which may have an influence on the price of the cars. In total about 3 to 4 different factors will be made.
I have already selected that data which I will be using, but now I’ll have to consider a method in which to group the data. Data collection can be done in several different methods, for example, random sampling, stratified sampling, systematic sampling or convince sampling.
Random Sampling
Random sampling is when random numbers are picked from the primary data. Random sampling can be done using several different methods, computer programs can be used to generate random numbers, calculator functions can be used etc…
Using calculator you can generate random numbers by pressing:
Click on “RAN” (No. of data for example, 100) and press =
This will generate random numbers between 1 to a 100.
Stratified Sampling
Stratified sampling is when generally when data is grouped for a certain factor.
The amount of groups that the data have to be put into is also an issue. Fewer groups may cause the data calculation to be difficult and in some cases the calculations may become in-accurate. And too many groups may make it difficult for you to draw the graph.
Systematic Sampling
Systematic sampling is when a value is picked after a certain amount of numbers. So basically this is when the 1st, 2nd, 3rd, 4th, etc... Values are picked.
1
8
9
7
5
6
3
I then decided to draw several different graphs and charts to clearly show the data. Mostly the graphs and charts I will us are listed below:
- Cumulative frequency graphs (line of best fit)
- Histograms
- Frequency Polygons
- Pie charts (easy to show different values)
- Bar graphs
- Scatter Graphs
- Box Plots
I will also be looking to make several different calculations. Some of the calculations I may decide to make are:
- Mean
- Mode
- Median
- Range
- Inter quartile Range
- Standard Variation
- Cumulative frequency
Finally a conclusion will be made to comment on my data and graphs, and comments will be made to explain if y hypothesis was correct or incorrect. Also I will explain any mistakes I had made throughout this investigation and comment on how I improved it or corrected it. And then finally I’ll sum up the main aim of this task and answer the main question, “what influences the price of a car?”