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
I WOULD LIKE TO GET THE BEST POSSIBLE MARK BEACAUSE I HAVE WORKED HARD ON THIS COURSEWORK. IF YOU HAVE ANY EXAMINERS TIPS PLEASE HELP ME.
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.
This student written piece of work is one of many that can be found in our GCSE Gary's (and other) Car Sales section.
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