Statistical Investigation on Car Prices Data Collection: We are asked to find the relationship between prices of ‘51 registered’ cars and variables such as their current new price, mileage and weight by using the regression analysis. To collect full information of these registered cars, we can access to the websites like: http://www.exchangeandmart.co.ukHowever, in this easy, we use the data, which are provided with the assignment by our teachers. By the sources, 100 cars, which manufacturers
Investigating the Factors that Determine the Price of a Second Hand Car Aim Use the information to investigate what influences the price of a second hand car. Introduction I’m going to find out what it is that affects the price of a second hand car. Hypothesis I think that the main factors in the drop of car prices are the age and mileage; this is because they give us a good indication as to what the cars price and other information could be. Plan I am going to prove this
Investigating How the Prices of Used Cars Vary From New Cars PLAN ==== I am going to investigate how the prices of used cars vary from new cars. I am going to sample all the cars that are two years of age and under and compare it with cars that are in the range of five to eight years old. I am going to compare two different cars makes with each other and I am also going to sample out all of the cars with the mileage of 70,000 and less and compare it the price of the cars with the mileage
Factors that Affect the Price of a Second Hand Car Introduction I am going to test which factors affect the price of a second hand car using a variety of different statistical techniques. From what I discover using these techniques I will conclude which factors are the most important. I will examine only cars within the reach of a normal family, i.e. not luxury cars. I will also exclude classic cars as these are unlikely to perform like normal second hand cars. Using a given set of
Which Factors Affect the Price of a Used Car Introduction: I have been given a database which contains information about one hundred different used cars. We are investigating what is the most influential factor when buying a second hand car. The factors which I will be using are the age and mileage of the cars to see how they affect the price. Hypothesis: Cars which are older and have got more mileage are generally cheaper, but if I have a vintage (antique) car it will change my graph
luxury image which has been built up since the 1970's with many motor sport victories ranging from Touring Car to Formula 1. BMW Group's worldwide mission statement is: "To be the most successful premium manufacturer in the industry."[1] 1.3 BMW's Marketing Mix To examine BMW we must first look at the marketing mix. A company's marketing mix is made up of four main points these are Price, Product, Promotion and Place. Through these points we can examine the specifics of a company to gain
Alternate Fuel Sources for Vehicles Introduction This project investigates alternative fuel source cars, such as Biodiesel, Hydrogen Fuel Cell, Natural Gas, Ethanol (e85), and Hybrid. I choose this topic when I realized how much people are paying for a fuel (gasoline) that only gives you 30% efficiency per gallon. This means that for every $100.00 that you spend on gas, you are wasting $70.00. Purpose My goal is to educate people about current fuel sources, so they can make more educated
competition in domestic markets. This fact will lead to the reduction in price of many products, which will benefit the consumer. Trade restrictions hurt the consumer, and this is a problem that the WTO is charged with addressing. In the 1980’s when Japanese cars were quickly gaining a foothold in the American market the US limited the number of imports from Japan, in theory to protect the American worker. In response to this, car prices rose extremely. If the imports were to be allowed into the United
Effet the Price Depreciation of a Car What factors effect the Price depreciation of a car and how? As a common teenager I am reaching the legal driving age and will soon require a car. As for most teenagers my age a new car is expensive so a second hand car would by more appropriate. For this project I will be looking at cars from two data sources: * The Primary Source. I will be doing my own research by using an "Auto Freeway" magazine for second hand cars and a "What Car?" magazine
Whether you are traveling, commuting for work, or just own a car in general, you are effected by gas prices. In the past four years gas has fluctuated tremendously, starting at $4.00 per gallon in 2014, and then declining to $1.88 per gallon in 2015. Now the gas price on average is $2.70 per gallon, but the highest gas prices in Oregon can get to be over $3.00 per gallon. How do gas prices effect the environment, your wallet, and people who work for the oil companies? I did some research to answer
been doing good with an emphasis of selling new cars as the principal business of the dealership 3. He created three independent departments, namely new car sales, used car sales, and service department. 4. Salary is dependent on each department's gross profit 5. Upon the take over of the managerial positions, Janet Moyer of the new car sales had a first challenge of making a sale through a costumer who wanted to trade his old car with a new car. 6. Moyer had to decide the amount she would offer
Gender Discrimination is a topic that has been going on within our country for a long time. Women have never been treated equality as men. Women are living in a society that they are known as property. Many men are unprejudiced discriminators since they do not see women as equal values to themselves: ”Unprejudiced discriminators might be those who unthinkingly practice sexism in their workplace by not considering females for certain positions that have traditionally been held by men.” (232). Women
range, or ballpark figure, that is accepted. This range is what the buyer will pay. If your price is not in this range, or in other words, "out of the ballpark," you run the risk of your customers thinking something is wrong with your product because it is not priced high enough, or that they are paying too much for your product if it is priced higher than the established range. Therefore, you must price within the accepted range for each product. Obviously, if you can add additional value to the
With the coming of the global marketplace on the Internet, would “Uniform Global price” become a reality? Introduction: What is the ‘Price’ of a product? How is the price of a product determined? Why is the price of an Apple iPhone relatively higher than the price of other Smartphone having the same or even more features? Read on … Pricing is one of the key functions of the finance as well a marketing department of any company whether it is a manufacturing concern or a service provider. On one
The product mix includes price, which generates sales, is a significant aspect that any for profit organization faces. Determining a price which depicts value, profitability, and is fair to consumers, is a crucial aspect of the marketing strategy. Price is the only element in the marketing mix that produces revenue; all other elements represent costs. Price is also one of the most flexible marketing mix elements (Armstrong & Kotler, 2015). Since Tesla maintains perceived value, plus differentiation
the anchoring effect and the confirmation bias that has been discussed earlier in this paper. In sum, we are surrounded by anchors everywhere and we all clutch to them. The “recommended retail price” printed on many products is nothing more than an anchor. Sales professionals know they must establish a price at early stage – long before they have an offer. (Rolf Dobelli “The act of thinking clearly”) The problem is that even being aware of its existence, we still can be victims of the anchoring bias
1. How does product line pricing maximize profits for an entire product line? If the price for different products is less than the sum of the separate prices, customers will be more likely to purchase without thinking it twice. This is why, product line pricing is a good strategy for companies that have more than two products in the line and have clear differentiation of features and benefits. It is important to build a strong product differentiation so that customers understand what they are paying
Market Price MARKETS:- Markets exist for the vast majority of goods and services. Markets can be defined broadly or narrowly. For example there are the consumer goods, capital goods, commodities, financial and labor markets. Each of these broad categories can be broken down into more specific markets. For example within the financial market there are markets for foreign exchange and for long term loans, within the corn modifies market there are the markets for corn and copper and within the
place pressure on OPEC, the prices will continue to soar well over the two-dollar mark, and cause the trucking industry as a whole to shut down bringing the U.S. economy to a grinding halt. What is the reason that gasoline and fuel prices are so high? Most people believe it is because of OPEC raising the price of oil. This answer is only partially true. In fact, there are several others factors that must also be taken into account when determining the cause of high fuel prices in the United States and
ETHICAL ISSUES IN PRICING The prices of products and services play a major role in determining how well they are going to sell. Ethical pricing strategies are adopted by the producers to earn profits without defrauding their consumers or competitors. Despite that, competitor's prices, availability, convenience and other factors tend to affect consumers’ impressions of fair prices. There are certain business laws, which protect consumers as well as competitors from the unethical pricing strategies