Investigating Factors that Influence the Costs of Used Cars
The aim of this project is to investigate which factors influence the
costs of second hand cars. The makes we were looking into include
Ford, Peugeot, Renault and Vauxhall.
To aid us with our research, we were given a bank of secondary data of
one hundred and ninety nine cars. Along with these cars, we were given
nine variables for each car; colour, engine size, petrol/diesel, year
of manufacture, mileage, cost, preliminary cost, make and model. We
later had to add an age column for each.
We have been asked which features make most difference. My predictions
for which makes the most difference are as follows:
FACTOR IMPORTANCE RANGE
1. Age most important factor 1yr-16yrs
2. [IMAGE]Mileage 1200-150,000
3. Cost 375-132,500
4. Petrol/Diesel Petrol/Diesel
5. Engine size 1,000-2,500
6. Year 1989-2002
7. Model 106-Vectra
8. Make Ford-Vauxhall
9. Preliminary Cost 6,000-20,020
10. Colour least important factor Black-Yellow
Looking through the data, I can see that it is not perfect. There are
many missing fields of data, and I had to remove one rogue piece of
data, being a Renault Laguna. I knew it was not right from my general
knowledge of cars, the price being too high.
I will draw up scatter graphs, histograms and cumulative frequency
curves (for cost compared with the whole population's age followed by
individual Makes)
to try and distinguish any correlation's (patterns) in the cost
distribution.
Fortunately, the median is not affected by extreme values so the box
plots will be fine, as will any other cumulative frequency curves.
Most variables would affect the cost, but by how much remains to be
seen.
I am now satisfied that results from my sample will represent the
population as a whole.
1st Hypothesis
I have said that age is the most important factor and so I will try to
explore it further.
[IMAGE]What I think will happen is-
...n of the research method or methods used to gather and interpret them are included. The method used to collect data is normally outlined in the article is appropriate to the topic, and allows the study to be duplicated for purposes of verification. The document relies on other sources that are listed in a bibliography or includes links to the documents themselves. The document names people and/or sources that provided non- published data used in the preparation of the topic of study.
test. I will test these using a given data set. If I need to take more
because of the line of best fit. Using line of best fit means I can
The data gave me insight into my research question because I got information from the
The American auto industry is in a crisis, their vehicles are not in demand and they need government bailouts to keep their businesses afloat. American vehicles are not on demand because people want fuel-efficient, the car companies that are not at the point of bankruptcy, longer lasting vehicles, and hybrid cars. The American car companies are at a point of bankruptcy and people don’t want to buy cars from a company that may not be there in a couple of months. The foreign car companies are doing well and they much more dependable now that we are in an economic crisis. American cars are not fuel-efficient, not as long lasting, and don’t make many hybrids, so this affects their business negatively. I got some ideas that will make American car companies be on top of the industry again.
The task of this assignment is to complete a competitive analysis of two of the largest competitors in the industry of chosen study. This researcher’s chosen field is the Car Wash industry. Unlike many industries, the Car Wash industry does not have dominant players or franchise names that rule across the country. Unlike other automobile related industries such as oil change (Rapid Oil Change), tires and batteries (Goodyear), and auto parts retailers (NAPA), where these types of name players may have thousands of locations throughout the country, there are no big name players in the Car Wash industry. Although there are companies that own and operate multiple car wash facilities, most of these multi-location owners operate multiple locations throughout a metropolitan or regional area and their overall location totals are nominal. Since there is a lack of dominant competitors to analyze, this researcher will focus on an analysis between the two main categories of car wash ownership: full service vs. unattended operations.
In the January/February 1997 issue of INTERFACES magazine, M.K. Geraghty and Ernest Johnson were presented as finalists of the Franz A. Edelman award for their presentation on a state-of-the-art Revenue Management System that would turn a huge money losing rental car company, National Rental Car, into a profitable business within two years.
We all dream in the day we get to purchase our first vehicle. The day we stop asking our parents to take us here and there. Some may say buying a vehicle is a pain in the you know what. It can seem like a stressful situation if you're not familiar with the process. However, working in the car industry has taught me valuable tips and tricks that will help me teach you to save money when car buying.
When you hear the term “used car”, what is the first thing that comes to mind? Some may think of an old rusty Cadillac that belongs in a junkyard. Others may think of that nice Camaro at the used car dealership for sale. Over the years, used car sales have skyrocketed. In 2012, over 40.5 million used cars were purchased in the United States (Atiyeh, 2013). Used cars are in high demand in today’s economy because of the lower prices, slightly higher gas mileage, and that they can be more trustworthy against some of the newer models. With used car sales always climbing, how do buyers know what they are looking for in a vehicle? How do they come down to the final decision of where to purchase the vehicle? Most importantly, how can buyers make sure that they do not get scammed? This paper will take you through the process of purchasing a used vehicle, from deciding on a budget, all the way to the final purchase of your “new” car.
A vehicle is one of the biggest purchases a person will ever make. Over the years, the prices of an automobile have increased due to the rise of inflation. Due to a price index, the price of an automobile changes over a certain period of time. Economists compare averages of automobiles to calculate the cost of each vehicle that presents itself on a car lot. When all of the above is calculated within the purchase of an automobile, it affects every area of making the automobile to selling the automobile. All of these factors are impacted together for the automobile industry as a whole.
There are four main factors influence the demand of cars. Firstly, the price of cars will affect the demand of cars. Secondly, the citizens’ income has the effect for the demand of cars. Thirdly, the government’s macroeconomic control policies will also effect the demand. Finally, the price of gasoline will affect the demand.
Intuitively, a cost-plus approach sets a lower boundary for the selling price. Yet to pitch a competitive price on the market, it takes more than that. The demand forecast advocates opting for the lowest selling price which yields the highest return. A market penetration strategy necessitates thorough knowledge of the selling prices of the nearest competitors and their retaliation potential. Ideally, the lowest price in the market of £10,400 dictates the upper ceiling of AUDI’s price discretion. However, setting initially a too low price in the hope for increasing it subsequently is not a viable option, as prices are somewhat inflexible upward. Instead, costs have to sink in the long run. Nevertheless, claiming a larger market share will allow AUDI to deftly climb the steep learning curve, lower its costs and further mobilize against market followers. A high price elasticity of demand insinuates that profit margins will continue to soar, if selling prices are reduced any further. As the point of maximum profit is apparently not yet reached, the company is advised to extend the range of the forecast. But is the highest profit naturally the best profit?
Cars general work with the engine turning over from the driver using their key which makes the four piston strokes start. Once that happens, it starts moving getting hot and while that is happening, it moves the transmission belt which moves the alternator, and the alternator starts generating power through kinetic energy which in turns keeps the battery powered so you don’t lose power while driving. After the engine does that then power is supplied to the various computers in the car which gets it started moving. The steering wheel is attached to a steering column and the several other parts of the steering linkage so steering is possible. The brakes have two different types on the front there can usually be disc rotors which work by the rotor being mounted on the rotor hub and held in place with the mounting bracket on the mounting bracket are brake pads which squeeze the rotor which cause the car slow down or stop. The brakes on the rear are drum brakes which are similar to disc brakes, but they have brake shoes which expand to stop or slow down the car. This is not always true though some cars just have disc brakes and some older cars have drum brakes the reason for this is because disc is more reliable than drum brakes. Of course after all that you would remove the key and it would then stop the engine and the belt from turning and then the majority of the electrical stuff turns off except for the battery.
For this research, I used primary and secondary sources to carry out my report for this information.
The study gathers the reliable information and data through the primary sources and secondary sources.