Calculating Used car prices

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Table:

 

Graph:

Equation of Line of Best Fit:  

Y= 4.2x + 43

Y= mx + c

Y=mx + 43

Gradient= Y/X = 37/8.9 = 4.2 (1.d.p)

Y= 4.2x + 43

E.g.:

Assume a car is 6 years old. How much is its current price if the car was bought new for £10,000?

%age loss = 4.2 x 6 +43

                  = 68%

money lost = 68% of 10,000

                   = £6,800  

new value = 10,000 – 6,800

                 = £1,500

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Mean of Graph:

Table:

 

Graph:

Equation of Line of Best Fit:

Y= 0.5x + 45.5

Y=mx + c

Y=mx + 45.5

Gradient= Y/X = 34.5/76 = 0.5 (1.d.p)

Y= 0.5x + 45.5

E.g.:

Assume a car has done 40,000 miles. How much is its current price if the car was bought new for £8,000?

%age ...

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