French Holidays
4 star(s)
Gary’s used car sales
Extracts from this document...
Introduction
My task for this coursework is to statistically analyse the data given to me regarding Gary’s used car sales. I shall begin with looking at the data. The following data was given to me.
No. | Price | Price when New | Age | Make | Mileage | Engine Size |
1 | £6,970 | £11,600 | 3 | Ford | 24,000 | 1.6 |
2 | £3,350 | £7,100 | 7 | Peugeot | 85,000 | 1.1 |
3 | £3,995 | £13,800 | 6 | Ford | 52,000 | 2.0 |
4 | £5,300 | £16,300 | 6 | Vauxhall | 70,000 | 2.0 |
5 | £6,500 | £8,700 | 3 | Fiat | 24,000 | 1.2 |
6 | £1,500 | £8,700 | 9 | Vauxhall | 82,000 | 1.6 |
7 | £995 | £8,500 | 9 | Ford | 102,000 | 1.8 |
8 | £3,000 | £10,400 | 7 | Vauxhall | 63,000 | 1.7 |
9 | £7,495 | £9,770 | 1 | Vauxhall | 8,000 | 1.4 |
10 | £850 | £7,540 | 10 | Ford | 124,000 | 1.6 |
11 | £5,595 | £11,000 | 4 | Ford | 41,000 | 1.6 |
12 | £4,995 | £9,880 | 3 | Ford | 34,000 | 1.4 |
13 | £5,595 | £14,000 | 4 | Ford | 55,000 | 1.6 |
14 | £4,995 | £11,500 | 4 | Rover | 40,000 | 1.4 |
15 | £2,600 | £12,000 | 7 |
Middle
Rover
142,000
2.3
29
£6,495
£8,800
2
Ford
23,000
1.3
30
£4,050
£8,400
4
Ford
48,000
1.3
31
£6,300
£10,300
2
Ford
26,000
1.3
32
£4,100
£8,900
4
Vauxhall
37,000
1.3
33
£6,600
£8,500
1
Vauxhall
9,000
1.3
34
£7,800
£10,500
1
Peugeot
13,000
1.4
35
£8,700
£16,000
3
Vauxhall
42,000
2.0
36
£2,000
£8,300
7
Peugeot
65,000
1.4
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.
No. | Price Difference | Age | No. | Price Difference | Age | |
1 | £4,630 | 3 | 19 | £14,800 | 8 | |
2 | £3,750 | 7 | 20 | £6,740 | 7 | |
3 | £9,805 | 6 | 21 | £5,500 | 3 | |
4 | £11,000 | 6 | 22 | £2,700 | 2 | |
5 | £2,200 | 3 | 23 | £1,900 | 1 | |
6 | £7,200 | 9 | 24 | £2,500 | 1 | |
7 | £7,505 | 9 | 25 | £10,300 | 5 | |
8 | £7,400 | 7 | 26 | £2,800 | 1 | |
9 | £2,275 | 1 | 27 | £3,700 | 5 | |
10 | £6,690 | 10 | 28 | £13,000 | 4 | |
11 | £5,405 | 4 | 29 | £2,305 | 2 | |
12 | £4,885 | 3 | 30 | £4,350 | 4 | |
13 | £8,405 | 4 | 31 | £4,000 | 2 | |
14 | £6,505 | 4 | 32 | £4,800 | 4 | |
15 | £9,400 | 7 | 33 | £1,900 | 1 | |
16 | £5,200 | 10 | 34 | £2,700 | 1 | |
17 | £4,350 | 11 | 35 | £7,300 | 3 | |
18 | £7,790 | 8 | 36 | £6,300 | 7 |
If you look at graph 1, you will see that I was wrong. There was no correlation between the price difference and the age. After seeing this, I thought that if I found what percentage of the original price the price
Conclusion
All the above data prove that the age and the mileage are the two most important deciding factors of the price and depreciation of a car, with the size of the engine entering into the equation if there is nothing out of the ordinary about the age and mileage.
In conclusion, I have discovered the following facts about the data provided:
· I found that there is no correlation between the price difference and the age, using a scatter diagram.
· I found that there is a strong positive correlation between the depreciation and the age, using another scatter diagram.
· I found a way to predict a percentage loss using a line of best fit and the lines equation.
· I found that a car decreases in value more in its first three years than at any other time using a scatter diagram.
· I found the main contributing factors and one backup factor to the price using the standard deviation, mean, inter-quartile range and majority range for the prices.
By Jamie Barnes
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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