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  • Level: GCSE
  • Subject: Maths
  • Word count: 2195

What influences the price of a second hand car.

Extracts from this document...

Introduction

Maths coursework

image00.png

image01.png

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Task

Title:

Aim: What influences the price of a second hand car.

I will investigate the following statement:

Do Vauxhalls depreciate faster than Fords?

I will carry out the investigation by seeing which car (out of Vauxhalls and fords) depreciates the fastest, by comparing numerous factors that affect deprecation of cars.

I am to collate data of Vauxhall’s and Fords as evidence and statistics to show the rate of depreciation of a number of cars per yeah.

I intend to investigate the factors that affect the price of a second hand car. During this investigation I am to focus on the age and the percentage depreciation of the car, each year, as I believe age is the main factor to car depreciation.

For my investigation (of car depreciation) I am to get the data from a random database.  Therefore it will be a fair test and the data that I’m to use isn’t related to anything.

Specifying the problem and plan

Investigation: I shall begin by looking at the data that was given to me. I then decided to place it in

...read more.

Middle

10150

850

Escort

11800

4700

Astra

13740

2906

Fiesta

8680

3200

Corsa

7840

4976

Focus

14505

8000

Corsa

7440

3495

Puma

13230

8250

Calibra

18675

6995

Escort

13183

3495

Astra

9795

3191

Mondeo

17780

7995

Vectra

13435

4995

Fiesta

6590

1664

With the data firstly I decided to see which the most popular model of each car was, out of the random selected data.

I decided to use a pie chart, as the information would be clear and accurate.

The results are as follows

image05.png

Out of the randomly selected data, Escorts were the mot popular models of Vauxhalls, and Fiestas were the most popular to Fords.image06.png

So why is this that both cars are the most popular?

During my investigation I will see what factors effect the popularity if theses cars, and if the rate of the car deprecation has anything to do with them being the most popular models of cars.

The first question which occurred to me was, is there any correlation between the difference between the price when new and the age. I expected there to be a positive correlation if there was one, showing that as the age went up, the drop in price from when the car is new and when it is re-sold increases. Below is a table of the Price differences and the age.

Model

Price

Price

Age

Model

Price

Price

Age

(Vauxhalls)

New

Old

(Fords)

New

Old

Vectra

18580

7999

2

Orion

16000

7999

1

Astra

14325

6595

4

Escort

8785

1595

7

...read more.

Conclusion

1">50.0

2

14505

8000

6505

22.4

44.8

3

18740

8420

10320

18.4

55.1

4

17570

7197.5

10372.5

14.8

59.0

5

11800

4700

7100

12.0

60.2

7

22284

6059.7

16224.7

10.4

72.8

8

7310

1050

6260

10.7

85.6

10

6590

1664

4926

7.5

74.7

11

7875

1495

6380

7.4

81.0

image12.png

Looking at the results in the table, I saw that with the 2-year-old cars, the deprecations were in the area of 20% - 30%. The 2-year-old cars were in the 25% - 40%. This showed me that the rate of depreciation might not be constant. To test this, I found the mean depreciation per year for all the cars by dividing the mean depreciation with the mean age, and got 11.65%. I then found the individual depreciation per year for all the cars. Below is a table of the results.

Make

Model

Price

new

Price

old

Difference

Age

%decrease

% decrease

Per yr.

Vauxhall

Vectra

18580

7999

10581

2

56.9

58.5

Vauxhall

Astra

14325

6595

7760

4

54

13.5

Vauxhall

Tigra

13510

7499

6011

4

44.9

11.1

Vauxhall

Vectra

18140

6499

11641

4

64.2

16

Vauxhall

Cosra

8900

4995

3905

2

43.9

21.9

Vauxhall

Nova

5599

1000

4599

10

82.1

8.2

Vauxhall

Cavalier

10150

850

9300

10

91.6

9.1

Vauxhall

Astra

13740

2906

10840

6

78.9

13.1

Vauxhall

Corsa

7840

4976

2864

4

36.5

9.1

Vauxhall

Corsa

7440

3495

3945

6

53

8.8

Vauxhall

Calibra

18675

6995

11680

6

62.5

10.4

Vauxhall

Astra

9795

3191

6604

6

67.4

11.2

Vauxhall

Vectra

13435

4995

8440

5

62.8

12.6

Ford

Orion

16000

7999

8001

1

50

50

Ford

Escort

8785

1595

7190

7

81.8

11.7

Ford

Fiesta

7310

1050

6260

8

85.6

10.7

Ford

Fiesta

7875

1495

6380

11

81

7.4

Ford

Escort

9105

2033

6805

7

74.7

10.7

Ford

Escort

12125

4295

7830

3

64.4

21.5

Ford

Escort

11800

4700

7100

5

60.2

12

Ford

Fiesta

8680

3200

5480

4

63.1

15.8

Ford

Focus

14505

8000

5705

2

39.3

19.7

Ford

Puma

13230

8250

4980

3

37.6

12.5

Ford

Escort

13183

3495

9688

7

73.5

10.5

Ford

Mondeo

17780

7995

9785

4

55

7.9

Ford

Fiesta

6590

1664

4926

10

74.8

7.5

image13.png

image14.png

Interpret and discuss results

Nadine Okyere        June 2002        Mr Ashfall

Data c/w

...read more.

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