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# Calculating Used car prices

Extracts from this document...

Introduction

Table:

 Car Number Price When New Current Price Age (years) Percentage Loss 1 16000 7999 1 50 23 8785 1595 7 82 33 7310 1050 8 86 35 7875 1495 11 81 43 8748 1995 7 77 45 9105 2300 7 75 52 12125 4295 3 65 53 11800 4700 5 60 57 8680 3200 4 63 64 14505 8800 2 39 65 13230 8250 3 38 80 13183 3495 7 73 81 17780 7995 4 55 86 6590 1664 10 75 96 15405 3995 5 74 99 9995 2995 6 70

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

Middle

29

65

53

11800

4700

34

60

57

8680

3200

27

63

64

14505

8800

7.2

39

65

13230

8250

34

38

80

13183

3495

43

73

81

17780

7995

30

55

86

6590

1664

37

75

96

15405

3995

57

74

99

9995

2995

64

70

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 loss = 0.5 x 40 + 45.5

= 66%

Money lost = 66% of £8,000

= 5,280

New value = 8,000 – 5,280

= £2,720

Mean of Graph:

 Mileage x 1000 Percentage Loss 7 50 63 82 90 86 74 81 80 77 84 75 29 65 34 60 27 63 7.2 39 34 38 43 73 30 55 37 75 57 74 64 70 47.513 66.438 MEAN

Table:

 Car number Price When New Current Price Mileage x 1000 Percentage Loss 3 18580 7999 20 57 4 14325 6595 30 54 10 13510 7499 27 44 12 18140 6499 49 64 14 8900 4995 24 44 26 5599 1000 75 82 28 10150 850 73 92 47 13740 2900 58 79 84 7840 4976 21 37 85 7440 3495 55 53 93 18675 6995 63 63 97 9795 3191 43 67 100 4995 4995 52 63

Graph:

Conclusion

THANK YOU.

P.S THIS IS ONLY THE MIDDLE PART OF MY COURSEWORK SINCE I HAVE TO DO THE PLAN AND CONCLUSION, COULD YOU HELP ME ON THAT AS WELL THANK YOU.

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