Regression Report - Research Paper Example

THE CORRELATION BETWEEN A CAR VALUE AND ITS AGE, COLOR AND BRAND Summary of Fit - Value For starters, a new car costs more than an old one. However, when compared to long term effects, it’s not that much more to make someone produce a cold sweat. Here, the value is not just monetary is even higher. A few factors which support the above statement are as shown below.I. ReliabilityA car should be able to deliver leave alone its buying price. Having car repair sessions at the garage is not everyone’s wish and this makes reliability a key factor when deciding on which car to buy against its age, color or brand.II. A decent nice carThe feminine gender always value and treasure colors such as pink and it would not be a shocker when a lady insists on having a pink Porsche.

But again, what is its value against its color? May be she loves speed and that’s why she went for the Porsche and pink is the color to speed in. As a result, the underlying baseline requirement towards the selection of a pink Porsche reduces the disparity between new and used prices. This is the extent with which value of a car chips in.III. How much cash will I have to part with?This is paramount towards a vehicle selection. If one doesn’t have cash to buy a Porsche, they should live according to their standards.

A Porsche for instance is a fuel guzzler and even after parting with such a huge lump sum, one will still go deep in their pockets to cater for the fuel expenses. A car should not at any time be a liability to your financial status. Sooner or later you will be the laughing stock in your town.IV. New car smell The smell of a new car is informative of change. Therefore, a new car despite of the value may motivate one to go ahead with the purchase despite of the value of the car in discussion. Works CitedFraser, Cynthia.

Business Statistics for Competitive Advantage with Excel 2010: Basics, Model Building and Cases. New York: Springer, 2012. Print. http://www.durametric.com/images/actualvaluesinexcel.GIFTop of FormBottom of Form