MAT10251 - Statistical Analysis Project

Added on - 13 Apr 2020

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Running Head: STATISTICSStatisticsName of the studentName of the universityAuthor’s note
1STATISTICSTo:Dear .....From:Subject :Analysis of Prices of Holden Commodore (6 cylinders) from Queensland StateIntroductionI understand that you wish to purchase a 2 to 3-year-old car. Hence, I have analysed theprices of Holden Commodore (6 cylinders) from Queensland State. Primarily the data consistedof the Age of the cars, Odometers, transmission, type of seller and colour and price of the cars.Since, you wished to purchase a car of 2 to 3-year-old car hence the prices of older and newercars have not been analysed. Prices of other cars from different states were also collected. I haveanalysed only sample 7.There were a total of 40 cars which were 2 to 3-year-old car.Distribution of the price range of the cars shows that the maximum number of cars are inthe range of $24500 – 26700 (figure 1). In addition, the prices of the cars is normally distributed.The average prices of cars is $25,710 with a standard deviation of $3,962. The minimumand maximum price of the cars is $17,900 and $32,990. Hence, the car prices have a range of$15,090.Further, the analysis of the data shows that 25% of the cars which are 2 to 3-years oldhave a price below or equal to $22,987. Similarly, 25% of the cars have a price are more than orequal to $28,840. in addition, 50% of the cars are below $25,990. The mean prices of the cars isbelow the median price.Moreover, from the analysis it is found that the minimum and maximum price of a 2-year-old car is $18,500 and $32,990 respectively. The average price of a 2-year-old car is$27,636. All 2-year-old cars have an automatic transmission and are sold by a dealer.
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