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# Investigate what influences the price of a second hand car

Extracts from this document...

Introduction

Marcus Wright

Aim

Use the information to investigate what influences the price of a second hand car.

Introduction

I’m going to find out what it is that affects the price of a second hand car.

Hypothesis

I think that the main factors in the drop of car prices are the age and mileage; this is because they give us a good indication as to what the cars price and other information could be.

Plan

I am going to prove this by making scatter graphs which compare the age and mileage with the second hand price. I have decided to only use 3 car makes, this is because there is 100 different cars with lots of irrelevant information. Therefore I will use Ford, Vauxhall and Rover because these are the most popular makes in the database.

Middle

As I was creating these graphs I realised that I would have more accurate results if I found the % depreciation and used this to compare with the age and mileage instead of the second hand price.

I found the % Depreciation by finding the new price and dividing it with the second hand price, then dividing this by the new price, and finally multiplying this by 100.

Price when new – Second hand price = Price difference

Price difference            = % Price depreciation

Price when new

I used Microsoft Excel, so this formula looked like this: -

=SUM(cell number/cell number)*100

The cell number is the cell on the spreadsheet where the prices when new and the second hand prices are for the cars used.

Conclusion

Was I correct?

My prediction was a success; the Fiat Uno’s current price is £1495. This is only a £145 difference from my prediction.

Conclusion

I think there is a strong significant relationship between age and % depreciation, and mileage and % depreciation. Engine size is also a good factor as this helped me with my prediction. I believe all of the other factors are insignificant and show no relationship, so I didn’t need to compare or use them.

Maths Coursework

Page

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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# Related GCSE Gary's (and other) Car Sales essays

1. ## Statistic coursework-what has the most influence on the price of a second hand car?

Ford and Mercedes' mean and median Mercedes-mileage Mercedes-mileage Median=39000 Mercedes-price (GBP) Mercedes-price (GBP) Median=12665 Ford-mileage Ford-mileage Median=10000 Ford-Price (GBP) Ford-Price (GBP) =4823.5 Median=4425 I worked out the mean of my data because it is usually the most representative because it uses all the data.

2. ## Used Cards - find which factors will influence the price of a second hand ...

sampling may give an equal chance of a car being selected, I decided to choose it. Furthermore as this is my pilot study I will only be working with a small population of my data, so it will be easy to avoid any incorrect conclusions.

1. ## Handling data Used car prices

This will enable me to construct 3 histograms, from which I can obtain 3 frequency polygons to compare. The following pages show the graphs and analysis of this hypothesis. The first graph shown here shows the value of depreciation for hatchbacks and the number of cars that are in each group.

2. ## T-Total Maths

5N - 42 GRID 7 T NUMBER T TOTAL 16 31 17 36 18 41 19 46 20 57 Numbers inside T shape 16 1 2 3 9 17 2 3 4 10 18 3 4 5 11 19 4 5 6 12 20 5 6 7 13 5 X

1. ## used car coursework

The intercept of the line is 5823.6 and this tells us that if the used car price is �0 then the new car price will be �5823.60. Overall from looking at these scatter diagrams I have realised that the used car price is affected by different factors such as mileage, age, engine size.

2. ## Used second hand cars

silver 18000 70 Fiat 10810 4995 2 green 18500 72 Mercedes 26425 17500 2 silver 22000 73 Porche 32995 19495 6 silver 46000 77 Mercedes 17915 11750 2 silver 17000 81 Ford 17780 7995 4 Cuirass 30000 84 Vauxhall 7840 4976 4 red 21000 86 Ford 6590 1664 10 red

1. ## What factors influence the price of a second hand car

new second hand Ford 16000 7999 1 7000 50.01 Mercedes 14425 10999 1 14000 23.75 Vauxhall 18580 7999 2 20000 56.95 Vauxhall 14325 6595 4 30000 53.96 Nissan 7995 3999 3 37000 49.98 Renault 13610 4999 4 33000 63.27 Mitsubishi 14875 5999 2 24000 59.67 Rover 22980 6999 4 30000

2. ## Maths Coursework - Used Cars

Frequency Class width Interval Frequency density 0<P?2000 6 2000 0.003 2000<p?4000 2 2000 0.001 4000<p?8000 1 4000 0.00025 8000<p?15000 1 7000 0.00014 Vauxhall Price of car (�) Frequency Class width Interval Frequency density 0<P?3000 3 3000 0.001 3000<p?6000 4 3000 0.0013 6000<p?8000 2 2000 0.001 Analysis of the histograms The

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