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After finding links, I will then attempt to progress the data in order to find out stronger links
between variables and eventually I will try to find a general value or formula that can link them. So
next time if I was to do this project again I would use a bigger sample to make my results and
predictions more reliable. But for a rather old car, its price maybe fairly accurately estimated from its
age. For example, if a car has been driven a lot, it would surely have depreciated as it has been used
a lot. From the graph I can say that as the mileage increases the used car price decreases. The residue
value is getting smaller as age increases. The gradients were very useful because they helped me to
work out how much a car lost or gained. This could be sales man, who drives from one state to
another. I will plot a graph showing the link between the two variables that are the age and the
mileage and it is shown in the next graph. First I will start with the make for Ford and the other
makes to get more information. From the graph I can say that as the engine size increases the used
car price increases. I think that comparing the second hand prices of the cars is not the best way to
do so. It is used to show how fast the second hand price for each car decreases. The graphs (except
for Fiat) show similar gradients to the population. This shows that my prediction was correct and as
there are hardly any cars with a very high mileage and there are only a few smaller mileages. The
trend line I added shows a slope going upwards from left to right. I think this because a car becomes
less efficient the more it has been driven. One of the reasons that the price may be higher than it
should be for the Ford Puma is that it has a low mileage of 34000 when compared to the Ford Escort
Duet, which has a mileage of 64000. So I think the Age will affect the price most, because it is the
most important variable of all and I think the Engine Size affects the least, however all the variables
will affect it in some ways. It is also one year old which is the lowest out of all the Rover cars, and
this could be the reason for the second hand price being high. This graph also shows me that there
are some kind of relationships between the brands’ price and the decrease per year. This may belong
to a person who does not like driving a lot. Each one of these factors produced similar scatter
diagrams with similar trend lines for each car make. The factors which I will be using are the age and
mileage of the cars to see how they affect the price. Theoretically, more accurate model could be
much more complicated than the less accurate model. The trend line I added shows a slope going
downwards from left to right. As you could see again as the age increases the price decrease because
the higher the age means it has been used a lot, so customers would give low prices. As the car got
older the second hand price decreased again and as the engine size got bigger the second hand price
got higher. Each investigation will start with a hypothesis, which I will prove or disprove through the
process of in-depth data analysis. The trend line I added shows a slope going downwards from left to
right.
To do this I will need to make sure the pie charts areas have the same ratio as their totals. All my
hypotheses were right which I stated before I started the project. As the car got older the second
hand price decreased again and as the engine size got bigger the second hand price got higher. The
age and engine size had the steepest line so they had the greatest affect on second hand price. And
this is obvious because they both show the same pattern of the line in both graphs. It shows a
negative correlation between used car price and mileage. It is also one year old which is the lowest
out of all the Rover cars, and this could be the reason for the second hand price being high. Firstly,
from face value I can see that all the graphs have a weak correlation, except for the Fiat graph. The
data which I have collected has proven quite true in my hypothesis and my plan. This special car has
much higher price than the most of the cars, which have the similar mileages. I will then represent my
data by the following diagrams. I think this because the value of cars will go down in age. From the
graph I can say that as the used car price increases the new car price increases. The trend line I added
shows a slope going upwards from left to right. When the car was bought, the brand of the car was
well known, but when it came to selling the car, the brand might have been considered as not good
any more like in the old days. The trend line I added shows a slope going upwards gradually from
left to right. I will use random samples for part C, D, E, F, G and from each group I have chosen to
investigate and stratified samples for parts A and B. The car which depreciated the most over the
years was Rovers as the trend line on the scatter diagram had the steepest gradient. Also it means that
high maintenance will be required for the car to stay working whereas a car with a low mileage
wouldn’t entail as much maintenance. If my investigation goes well, my hypothesis should be correct
and should expect some outliers. I am aiming to go slowly my making different diagrams at different
times so there would be no confusion, so therefore I would be going on to pie charts. The trend line I
added shows a slope going upwards from left to right. Theoretically, more accurate model could be
much more complicated than the less accurate model. When compared to the other Ford cars, the
Ford Puma has a relatively low age and one previous owner; this could be the reason why it is low in
price. The trend line I added shows a slope going upwards from left to right. I believe the Engine
Size and the Brand (Make) of the cars will affect the rate. From the graph I can say that as the used
car price increases the new car price increases. The car which depreciated the most over the years
was Rovers as the trend line on the scatter diagram had the steepest gradient. If you look carefully at
the trend line, you will notice that when the car is young i.e. has been used for 1 or two years, its
price declines drastically but as it gets older, its second hand price reduces steadily. To see if this is
true for all the other cars I will compare the age and second hand price for my chosen sample.
The reason why I am providing diagrams for different makes of cars is because to get more accurate
results. From this investigation I feel that I have not got enough statistical evidence to draw upon
instructor A’s performance levels with accuracy. It shows a positive correlation between used car
price and engine size. I think that this is because an older car would have been driven more than a
new car and therefore it would be a higher mileage. From the graph I can say that as the used car
price increases the new car price increases. This suggests that the cars are not made for the same
market as there is a big difference in second hand price. The trend line I added shows a slope going
downwards from left to right. Fiat was also the make that lost the most money quickest. Whereas
the Vauxhalls that will have a lower mileage will have a higher second hand price rate than the Fiats
and the fords. I will now remove the outliers because they are skewing my data to make the
trendline inaccurate, I will also add the formula of the graph on to the trendline. I am now going to
investigate further by dividing instructor B’s students into two separate scatter graphs, one to
explore males and the other females performance levels, again looking at the number of lessons and
mistakes. I will investigate further with the other cars to see if all the other cars give me the same
result. Engine with a large size might wear out slower or faster meaning the rate of decrease (Price
decrease per year) will also be affected. For example, the 8 year old car had a higher price then cars
that ranged between 3-7 years old. When the car was bought, the brand of the car was well known,
but when it came to selling the car, the brand might have been considered as not good any more like
in the old days. So this special car’s mileage is very high even though its age is very low, compared
to the other cars. So I could conclude that each brands’ model is much more accurate. Therefore, to
retain the fairness throughout the experiment, I will use stratified sampling as a fair method. For
example, if a car has been driven a lot, it would surely have depreciated as it has been used a lot. So I
have proven my hypothesis right because the older the car is the cheaper it is. I will again be using
scatter diagrams to do my investigation. The trend line I added shows a slope going upwards from
left to right. For example, the 8 year old car had a higher price then cars that ranged between 3-7
years old. At present there are no outliers for mileage against the four car makes. I think doing my
investigation on computer would give a better pictorial view than by hand. More complicated model
could include more variables, longer calculations, more time will be needed in order to be much more
efficient. The table shows the mileage, age, used car price and engine size of Fiat cars. The main task
of this investigation is to find a suitable model for R. The trend line I added shows a slope going
downwards from left to right.
Then I will plot a trend line that is linear and then I will find out the equation of that linear graph and
then substitute it with the rate of depreciation, which is R. This is because its price is much higher
than the other cars where it has been used more frequently than the others, because the mileage is
very high. At first, I will do the graph on the calculated price for all the brands, and then I will go on
to each of the brands. I am investigating whether the mileage has an effect on the second hand price.
This will show me what sort of correlation the graph has, whether positive or negative and how
strong it is and also become apparent with the line of best fit. The trend line I added shows a slope
going downwards from left to right. It shows a positive correlation between used car price and
engine size. From this investigation I feel that I have not got enough statistical evidence to draw
upon instructor A’s performance levels with accuracy. In this coursework I will be comparing the
second hand prices of cars, using different factors. Firstly I will do Fords, as they are the most
numerous of all the cars in the table. The trend line I added shows a slope going downwards from
left to right. The table shows the mileage, age, used car price and the engine size. I would say that
there is not correlation here on this graph. I will again be using scatter diagrams to do my
investigation. From the graph I can say that as the mileage increases the used car price decreases. I
think this because a car becomes less efficient the more it has been driven. All my hypotheses were
right which I stated before I started the project. The age and engine size had the steepest line so they
had the greatest affect on second hand price. So the price depreciates slower as the age goes up. The
Rover Club has a mileage of 2000 and when compared to the rest of the cars, it is considered very
low. I am investigating whether the mileage has an effect on the second hand price. Where as for
cars with low mileages, their prices largely depend on their mileages. I will also look at price
depreciation and the mean price depreciation. From this I saw that the factor which had the most
affect on second hand price was age and engine size of the car. In order to draw upon accuracy I will
use a stratified sample. On this particular graph, it was not done with each brand and contained all
the brands. From the graph I can say that as the age increases the used car price decreases. What I
see here may not be the same on the population as the sample is very small and also I had used more
Rovers then Renaults. I have decided not to calculate the range because it can be misleading as it is
affected by extreme values since it is calculated by highest value minus lowest value. From the graph
I can say that as the used car price increases the new car price increases.
The graphs (except for Fiat) show similar gradients to the population. When I compared makes I
noticed that they had similar trend lines with only a few differences. The main task of this
investigation is to find a suitable model for R. I will also use box and whiskers to show the median
and compare the ranges of second hand price. It is also one year old which is the lowest out of all
the Rover cars, and this could be the reason for the second hand price being high. It shows a positive
correlation between new car price and used car price. The graph will be the rate of depreciation
against the age. From the graph I can say that as the used car price increases the new car price
increases. This suggests that the cars are not made for the same market as there is a big difference in
second hand price. Also some cars will depreciate quicker than others in their first year. So I think
the Engine size won’t matter that much and won’t affect a lot in the Price. This tells us that as the
mileage of car increases, so does the percentage depreciation, which means that the higher the
mileage the cheaper the second hand price for a car. The reason why I am providing diagrams for
different makes of cars is because to get more accurate results. This has been built up from year to
year since the beginning when the car had been bought. I think this because the value of cars will go
down in age. I am not too happy with this graph due to the trendline appears to have been drawn
wrong by the outliers Bentley Rolls Royce. To calculate the stratified sample I will divide the
previous total population by four, which equals 60, this is now one quarter of the total population. So
I think the Engine size won’t matter that much and won’t affect a lot in the Price. It might slow
down less and less but will not reach a negative value. Where as for cars with low mileages, their
prices largely depend on their mileages. The trend line I added shows a slope going upwards from
left to right. In this coursework I will be comparing the second hand prices of cars, using different
factors. I am investigating whether the mileage has an effect on the second hand price. In order to
draw upon accuracy I will use a stratified sample. The reason why I am providing diagrams for
different makes of cars is because to get more accurate results. It is easy t gather information about
what car is the most and less. The table shows the mileage, age, used car price and engine size of Fiat
cars. This means that my hypothesis was incorrect because the mileage follows the age. The weakness
of this project is that my sample was not big enough for the population of cars that are in the U.K
right now which are millions. Rover has the largest spread of data telling us that it has cars with a
variety of prices.
It might slow down less and less but will not reach a negative value. This may be the case for the
other two factors in this project although it may not be for the engine size because the size of the
engine is not an ageing factor (it does not increase or decrease per year). This again supports my
hypothesis that females make more mistakes than males, proving my hypothesis to be correct. Still
one brand (Fiat) is an odd one out which means it still can’t be said to be a major influence. It shows
a positive correlation between used car price and engine size. This also shows that a car that is new
depreciates at a faster rate than a car that is older. Also the size of the database is very small and if I
could do the survey I would choose a much bigger database. This is because stratified sample takes
into account the make of the cars and the frequency, and also keeps the investigation thoroughly fair.
The graph will be the rate of depreciation against the age. From the graph I can say that the older the
car is the lower the value is of the car. Firstly, from face value I can see that all the graphs have a
weak correlation, except for the Fiat graph. And also showing a negative correlation as the price
drops faster when the car is younger than the older and the price will never reach a negative price. I
will plot a graph showing the link between the two variables that are the age and the mileage and it is
shown in the next graph. But I will plot it anyway to see whether it has an affect or not. I will now
use the Ford data to compare price to age. From the graph I can say that as the age increases the used
car price decreases. I am going to investigate the effects of used car selling prices. Coefficient of
covariance or r gives a value which can terminate which factor is most important. This car has been
used more frequently than the others and its mileage is much higher than the other cars. The trend
line I added shows a slope going upwards from left to right. Instead, I will use 40 cars because then
it will be an easier amount of cars to work with and the investigation will remain fair. The weakness
of this project is that my sample was not big enough for the population of cars that are in the U.K
right now which are millions. I used my cumulative frequency graph to produce box plots which are
displayed on graph 19. The reason why I have provided the two charts is because I think it would
provide a pictorial view about what is happening. It shows a negative correlation between used car
price and mileage. Also it has airbags and air conditioning, which increase the value of the car even
more. But for a rather old car, its price maybe fairly accurately estimated from its age. To that, we
leave the variable less for the brands. I would also investigate more factors to see if they decrease or
increase the second hand price, because may be the colour of the car of the number of seats does
affect the second hand price. In order to draw upon accuracy I will use a stratified sample.
By doing this, I will be able to see whether the modal is accurate or not and evaluate it. The trend
line I added shows a slope going downwards from left to right. Therefore it is very important to be
able to predict the value of R based on given variables. If a car is 1 year old, it should drop at a
higher rate per year where as a 20-year-old car that no one wants to buy should drop at a lower rate
per year. On this particular graph, it was not done with each brand and contained all the brands. I
have found this out by looking at my graph that I have made. This tells me that there is a wider price
range for Ford cars. And also showing a negative correlation as the price drops faster when the car is
younger than the older and the price will never reach a negative price. The car make with the gentlest
gradient is the Rover, which tells us that it is least influenced by mileage. This special car has much
higher price than the most of the cars, which have the similar mileages. I will be investigating the
price, age, and mileage of the cars. Also, this graph is correct in showing that no matter how old the
car is the price will not go to a negative value. This hypothesis will be much more difficult to
investigate in comprising to the last two hypothesis as the technique of using a scatter graph will
simply not be enough to find evidence to prove or disprove this hypothesis. It is easy t gather
information about what car is the most and less. I overcame these difficulties by getting help from
other people in my class who had understood it. This table shows the price decrease where the
Original Cost subtracted the Price (Current Price). It shows a positive correlation between used car
price and engine size. But I will plot it anyway to see whether it has an affect or not. From the graph
I can say that as the used car price increases the new car price increases. From analysing graph 6 I
have distinguished that the stratified population used within graph 5 is not a good representative
sample as while graph 5 shows positive correlation graph 6 shows loose negative correlation, overall
suggesting that instructor A is a better instructor than what I originally thought, but the findings
suggest that instructor is an instructor which teaches both students that make mistakes and others
that don’t. The main task of this investigation is to find a suitable model for R. The outliers could be
due to rare models that go higher in price. Statistics: Factors Affecting the Price of Used Cars. I
would provide tally charts for the most popular cars. So there must be another variable, which have
an effect on this. Rover has the largest spread of data telling us that it has cars with a variety of
prices. This will help me show which car has the biggest depreciation rate. The data can be produced
of cumulative frequency graphs or can be raw data. This is due to some cars which didn’t depreciate
as much as expected. I think this because a car becomes less efficient the more it has been driven.