Inderpal Singh

Heston Community School

MATHEMATICS COURSEWORK:

Statistical data

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

Aim

The aim of this investigation is to find out what influences the price of second hand cars. (used cars)

Introduction

## Hypothesis

The sample provided, includes a list of 100 cars that shows quantitative and qualitative data, such as Second Hand Price, Engine Size and Colour.

To obtain my hypothesis, I carried out research in a car magazine called ‘LOOT’ and a website: From this I found out that the most common cars reflected my sample and this was also a good indication of cars on the current market today.

The magazine and website research gave me quantitative results.

Therefore, my hypothesis and what I will investigate from this is:

“The older the car in age and the more owners it has, the more cheaply the second hand price value is going to be.”

Also, I take into consideration that, “The less mileage the car has, the better condition and more expensive the car is. This more mileage the car has, the more likely chance of it being a cheap, second hand car.”

I chosen this as my hypothesis because, in reality that is what determines the price of car,

For example,

If a new car in age had a lot of owners, it would vary the second hand price of the car.

This is compared to a the same car, but with fewer owners, it will make the second hand price a lot more expensive than the new car with a lot of owners.

## Method

To achieve my hypothesis, I am going to compare:

- The Make of the Cars, Price When New, The Age of The Cars, The Mileage the Cars Travel & How Many Owners the Cars has.

To see how they all affect the price of a second hand car. This is to give me better and more accurate results.

I would also like to use all the data of cars, however this is not possible because some the data is missing from some cars. Therefore to avoid this problem, I am going to use the selection of cars that contain complete data. I am doing this to avoid being bias.

Additionally, I am going to present my findings in a table form, using graphs such as:

Bar charts, Dual bar charts, scatter diagrams, cumulative frequency graph, box plot/whisker diagram.

Each variable compared will have the layout of:

The variable data being compared in a table with a reason why it affects the cost of a second hand car. Followed by the calculations from the table along with a graph to show the calculations. Finally, this will be concluded with an analysis of the graph and an explanation of what it represents.

MAKE

1.) The first variable that I think influences the cost of a second hand car is the Make of the Car.

The Make of Car tells me that different Makes have different values. It affects the price of a second hand car, as certain makes and models are more expensive than others. As I am going to explain further.

I placed my sample in a chronological order to see how many different types of Make of Cars I had.

I also put my data in a table, so it is easy to see

TABLE SHOWING MY SAMPLE DATA

I am working out the Mean, Median, and Mode from this discrete data, to show averages in the data. This is then made it easier for me to make draw conclusions from them.

Moreover, from this quantitative data, I found two different mean prices for each Make of car. These were the mean Price When New and The Second Hand Price.

The Mean is defined as, “the sum of the values divided by the number of values.”

This can be shown in the equation:

Sum of values

Mean =

Number of Values

This can also be written using the summation sign Σ:

Where Σx is the sum of the values and n is the number of values.

Therefore, to calculate the mean price of a particular type of Make, I took this equation and used the data from my sample and found out the mean prices for when the Make of car was new and the second hand price of the make.

For example,

The make BMW has two different models, which falls under its category.

I then selected the Price When New of each models and found the sum of the two models.

I then had to divide the answer I got from that sum, by the number of models in the make of BMW; which were two: