CAR SALES MATHS COURSEWORK

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INDERPAL JUTLEY MATHS CAR SALES COURSEWORK

CAR SALES MATHS COURSEWORK

For my maths/statistics coursework I am to analyse a set of data given to me. The purpose of this investigation is to distinguish any possible correlation between certain variables. Furthermore, I must determine what factors affect the price of a car. From my data I am looking at particular variables as I feel these variables will the most subsequent to the price. The variables I am going to investigate are as follows:

  • The age of the cars.
  • The mileage of cars.
  • The engine size.
  • The makes.
  • The cost of the car when new
  • The second price.

Initially, I am going to find any obvious links between the above variables. Moreover after finding the link’s I will develop the data in an attempt to locate the influential links that affect the price of the car. To assist me in doing this I am going to draw graphs and obtain conclusions that will lead me on to finding a general formula.

Out of the data given to me I have used the random function on my calculator to generate random number with which I was able to collect the cars I hope to analyse. Out of 100 cars I have chosen 36. I feel that 36 are a sufficient number to get the best possible conclusion. These are the following cars I am going to analyse:

HYPOTHESIS

  1. Out of all the variables I have chosen to investigate I think that the age and mileage will have the best correlation. I believe that as the age goes up so will the mileage.
  2.  Furthermore, I feel that as the mileage increases the price of the car will decrease. The more the mileage the less the price.
  3. I believe out of all the variables engine size will not provide me with a strong conclusion. In contrast I feel that the make will decide the price of a car to a certain extent.

PLAN OF ACTION

Firstly, I am going to plot graphs variables I have chosen to investigate. I will also use standard deviation and rank correlation coefficient to give me an idea if the correlation between certain aspects of my data. I will also use other statistical methods such as mean median quartiles box plots etc.

GRAPHS

To begin with, I am going to evaluate the price of all 36 cars with their age and mileage. Using my own knowledge I speculate that age and mileage should have an obviously correlation, thus making the price of the car cheaper.  

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ANALYSIS OF GRAPH

From the above graph it is clearly noticeable that as the car gets older price goes down. Thus representing the fact that a new car depreciates at a faster rate than an older car. For example, a new car that is about a year old must depreciate at an excessive rate than that of a 10-year-old car. Furthermore, suggesting that as the age goes up the price depreciates less. At closer examination another judgment can be made. The price of a new car is harder to determine than that of a car that is relatively old. ...

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