You need to collect two quantitative variables and use real-life data to estimate the car depreciation rate and its value for your chosen cars by using linear regression method
Math 117 – Statistics Project
Overview & Instruction
In this project, you will consider purchasing of a new vehicle. You can go to https://www.kbb.com/ the Kelley Blue Book website for this research paper.
You will pick two different makes of the car and compare their MSRP (Manufacturer’s Suggested Retail Price) with the difference in price can’t be over $2,500 to start. You will research different cars and their features to assess your personal preferences and specifications of the car. The main goal for this project is the following,
You will write about the make and model of your chosen cars and state why you want to choose these two cars and you need to include at least 4 features and specifications that are important to you.
Part I: Data collection
You will collect the used car value for the make and model of your chosen car over the past 8 years from Autotrader.com.
|Car 1 Make Year||Price|
|Car 2 Make Year||Price|
Linear Regression Model and Graph
In this section, you will use the technology to create the following items
Data Analysis: Interpret the linear regression model
In this section, you will discuss the meaning of your defined regression models by answering the following questions:
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