Internet Used Car Markets
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This paper assumed, in the beginning, that the older BMWs got the lower price meaning that the newer cars would get a higher price. Next, the author reviews the statistics comparing age, mileage and model type based on the data from www.car.com by using summary tables and distribution graphs. The paper concludes that the mileage of the cars are more related to the price in that the cars with fewer miles are more expensive than cars with more miles. Several graphs are included in the paper.
From the Paper:"On average, as a car gets older the price lowers each year. You can tell the age of a car based on the model year minus the current year. The summary table and graph to the right show the age of the BMW 3 Series and Mercedes-Benz C Class cars. This type of graph is called a boxplot. The box in the center represents the middle 50% of the data, and the lines at the end of the boxes represent the lower and upper 50% of the data. As you can see from the graph, the centers (the line in the middle of the box) are the same for BMW 3 Series and Mercedes-Benz C Class cars. Also you may notice dots outside the main box, which are called outliers. Outliers are cases (the different dots themselves) that stand outside the general mass of the data. The numbers that demonstrate the center can also be found on the summary table. They are known as the mean and the median (types of averages in a summary table they are shown as the first and second numbers from top to bottom). As you can see the mean is very similar and as mentioned above, the medians are the same."
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Cite this Analytical Essay:
Internet Used Car Markets (2011, December 07) Retrieved October 20, 2020, from https://www.academon.com/analytical-essay/internet-used-car-markets-149343/
"Internet Used Car Markets" 07 December 2011. Web. 20 October. 2020. <https://www.academon.com/analytical-essay/internet-used-car-markets-149343/>