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What affects the price of second hand cars?

Extracts from this document...

Introduction

Statistics coursework:

What affects the price of second hand cars?

Planning

        I will be investigating what affects the price of second-hand cars. To do this I will be choosing 4 cars makes at random and then using different models made by those people as part of my investigation. I will then investigate 5 lines of inquiry, which will be:

  • Fuel
  • Mileage
  • Engine (size in cc)
  • Insurance group
  • Age

I have chosen these because I think that these factors are what most effect the price of a second hand car.

First I’ll need to write a Hypothesis, which is what I think that I will find out from the investigation. Then I will find out all about the models for each make I choose.

...read more.

Middle

Unleaded

34000

9

Escort

13183

3495

7

1.8

Unleaded

43000

10

Mondeo

17780

7995

4

2

Unleaded

30000

10

Fiesta

6590

1664

10

1

Unleaded

37000

4

Escort

15405

3995

5

1.8

Diesel

57000

8


Mitsubishi

Model

Price when new (£)

Price now

(£)

Age in years

Engine size (in cc’s)

Fuel type

Mileage

Insurance group

Carisma GDI

14875

5999

2

1.8

Unleaded

24000

10

Carisma

15800

5999

2

1.8

Unleaded

33000

10

BMW

Model

Price when new (£)

Price now

(£)

Age in years

Engine size (in cc’s)

Fuel type

Mileage

Insurance group

525i SE

28210

5995

8

2.5

Unleaded

55000

15

316i

13650

6995

6

1.8

Unleaded

71000

11

Land Rover

Model

Price when new (£)

Price now

(£)

Age in years

Engine size (in cc’s)

Fuel type

Mileage

Insurance group

Discovery

27855

13995

1

2.5

Diesel

40500

13


Hypothesis

        I think that I will find out that age most effects the price of a second hand car out of the lines of enquiry I have chosen. This will be closely followed by mileage. I think that this is because if the car is old or it has a high mileage then it is more likely to need service.

...read more.

Conclusion

0">1st Line of enquiry: Age

Ford

Age

Number of cars

1

1

2

1

3

2

4

2

5

2

6

0

7

3

8

1

9

0

10

1

11

1

Mitsubishi

Age

Number of cars

1

0

2

2

3

0

4

0

5

0

6

0

7

0

8

0

9

0

10

0

11

0


BMW

Age

Number of cars

1

0

2

0

3

0

4

0

5

0

6

1

7

0

8

1

9

0

10

0

11

0

Land rover

Age

Number of cars

1

1

2

0

3

0

4

0

5

0

6

0

7

0

8

0

9

0

10

0

11

0


Average age of Ford cars =

...read more.

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