Investigation of factors that effect the price of a car

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For this investigation I will be using the data to investigate what factors influence the price of a second handed car. To do this first I will specify clearly what I am going to do and why I am going to carry out the investigation this way. Then I will collate the data that I need and represent it in a way that helps me to develop my investigation. Finally I will interpret my results and draw conclusions from them. I’ll be using tally, Bar charts, cumulative frequencies, frequency charts, scatter graphs and Pie charts.

Planning:

First I shall provide the data all the cars that will show Price Vs Mileage, Price Vs Age, car ownership and number of cars per model. After that I will pick out the top 3 cars which reappear the most in the charts and graphs. After that I will examine the Price Vs Mileage, Price Vs Age of those 3 selected cars. I will then see what factors or what qualities do these cars have which are affecting there price and popularity for e.g. Mercedes may not be owned by that many people because it is a prestige car and has all the qualities, it still holds its price.

The reason for car ownership could be that the Mercedes might not be affordable because it is too expensive for some people or isn’t affordable. After doing so and once I have examined the factors affecting each of those cars than I will do frequency charts and Cumulative Frequency graphs on age, mileage and price for each one of those 3 selected cars. In order to show what and how some of the factors are effecting the car, I will include some writing under the graphs and charts to make them clear and easier to understand

Price, Age and Mileage: All Cars

Price Vs Age:

Ford

According to this Scatter Graph, as the car gets older in age the more the car keeps on dropping its value. This means the higher the mileage, the larger the price of the car decreases, but at some point most of the cars have a high age yet the price is also high the reason for this could be that safety wise the car has air bags which the owner or the buyer of the car may consider, the car has along MOT which will save the owner money, there could be a possibility that the facilities of the cars are up to standards such as it has had services or has air conditioning. The same reasons apply to the 8 cars shown above the trend line.

Rover

According to this Scatter Graph and Tally chart the Rover cars get more older while there value keeps on dropping down as well which means that the more the age increases the more the price decreases. To prove this according to the Scatter graph we see a decrease of the price from 14999 to 1700 which is a decrease of 13299 whereas the age increases from 1 to 8 which is a increase of 7 years. The reason why I thought this was because once the car gets older its value automatically decreases. These same reasons also apply to the 5 cars above the trend line.

Vauxhall

According to this Scatter Graph and Tally chart the Vauxhall cars get more older while there value keeps on dropping down as well which means that the more the age increases the more the price decreases. To prove this according to the Scatter graph we see a decrease of the price from 7999 to 850 which is a decrease of 7149 whereas the age increases from 2 to 10 which is a increase of 8 years. The reason why I thought this was the reason was because once the car gets older its value automatically decreases. Again these same reasons apply to the 4 cars above the trend line.

Price Vs Mileage: Graphs

Ford

Again the same occasion occurs in this situation, which means that car can be not only be chosen because of its price or mileage but that it has up to standard with all facilities that the owner or the buyer wants such as air conditioning, services or air bag when it comes to safety wise.

Rover

According to this Scatter Graph and Tally chart as the car is more used up the value of the car keeps on dropping down more as well which means the more the mileage increase the more the price of the car decreases. To prove this according to the scatter graph we see a decrease of the price from 14999 to 1700 which is a decrease of 13299 whereas the mileage increases from 2000 to 90000 which is an increase of 88000 miles. The reason why I thought this was the reason because the Car has been used for a certain amount of time which causes the value of the car to decrease.

Vauxhall

According to this Scatter Graph and Tally chart as the car is more used up the value of the car keeps on dropping down more as well which means the more the mileage increase the more the price of the car decreases but at some point most of the cars have a high mileage yet the price is also high the reason for this could be that the Model of the car still holds its price, that the colour might be one of the most important factors or because the car has had service done. Any of these factors might be the reason for which the car still holds a high value.

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