Findings and Data Analysis:

1. Age
Age Group
Below 20
21-30
31-40
41-50
Above 50
Total

Frequency
2
3
8
5
2
20
Table 2.1: Age Analysis

Age Group
below 20
below 20
21-30
21-30
21-30
31-40
31-40
31-40
31-40
31-40
31-40
31-40
31-40
41-50
41-50
41-50
41-50
41-50
above 50
above 50

Respondents Age
Group
19
20
28
26
24
32
33
38
32
40
38
35
40
43
42
45
48
42
53
52

Table 2.2: Age Frequency Distribution

Age Analysis

above 50; 10% below 20; 10%

21-30; 15%
41-50; 25%

31-40; 40%

Figure 2.1: Age Analysis

Age Frequency Distribution

10
8
6
Frequency

4
2
0

8
2

below 20

21-30

5
2
31-40

41-50

above 50

Age Groups

Figure 2.2: Age Frequency Distribution

Mean
Median
Standard
Deviation

36.5
38
9.8

The Figure 2.1 and 2.2 shows respondents of different age group
participated in the survey. The highest number 40% of the respondents
were of the age group of 31-40, 25% of the respondents were from age

group of 41-50, 15% were from the age group of 21-30, 30% and the
lowest i.e 10% of the respondents from below 20 and above 50.

Manual Calculation:
f

x
10
25.5
35.5
41.5
51.5

2
3
8
5
2
20

fx
20
106.5
284
207.5
103
721

Mean
X = fx = 36.05
f
Median = L1 + (N/2 - cf) c
f
Median class = Size of (N/2)th item
= Size of (20/2)th item = 10th
= 31-40
Median = 31 + 10 - 5 x 9
8
= 31+ 6 9
8
= 31 + 6.75 = 37.75

Standard Deviation:

SD =

f(x - x)

N
= 10
2. Your monthly household income.

Income
Below 7000
7001 - 12000
12001 - 17000
17001 - 22000
22001 - 27000
27001 - 32000
Above 32000
Total

Freque
ncy
1
3
6
4
2
2
2
20

Table 3.1: Income Analysis

Income Range
Below 7000
7001 - 12000
7001 - 12000
7001 - 12000
12001 - 17000
12001 - 17000
12001 - 17000
12001 - 17000
12001 - 17000
12001 - 17000
17001 - 22000
17001 - 22000
17001 - 22000
17001 - 22000
22001 - 27000
22001 - 27000
27001 - 32000
27001 - 32000
Above 32000
Above 32000

Income
6500
8000
10000
11000
13000
15000
16000
13000
17000
15000
19000
20000
22000
18000
25000
25000
26000
27000
35000
34000

Table 3.2: Income Frequency Distribution

The average household income of respondents in a sample is AED 18,775
per month. Modal class is AED 17001 22000 as the most frequently
occurring. Median is approx.=AED 17,500, inter-quartile range is approx.

between AED 7001 and 12000. The mode can be approximated as AED
13,000.

Income Distribution

Frequency

7
6
5
4
31
2
1
0

6
3

4
2

Income

Figure 3.1: Income Frequency Distribution

The Figure 3 shows respondents of different income group participated in

the survey. The highest number 30% of the respondents were of the
Income group of 12,001 17,000, 20% of the respondents were from
income group of 17,001 22,000, 15% were from the income group of
7001 12,000, 10% of the respondents 22,001 27000, 27,001 32000
and above 32,000 and the lowest is 5% from the income group below
7000.
Manual calculation:
f
1
3
6
4
2
2
2
20

x
4500.5
9500.5
14500.5
19500.5
24500.5
29500.5
34500.5

fx
4500.5
28500.00
87003.00
78002.00
49001.00
59001.00
69001.00
375008.

Mean:
X = fx = 375008.5 = 18750.425
20

Median = L1 + (N/2 - f) x c
f
Median Class = size of (20/2)th = 10th item
= 12001 + 10 - 4 4999
6
= 17,000
Inter-quartile range:

Q1 = Size of Nth = 20 = 5th

4

L1 = 12001, N =5, cf=6, f=6, c = 4999

4
Q1 =12,001 - 5 4 4999
6
= 12001 + 4999
6
= 12001 + 8331.66 = 12,834

Q3 - Q1 = 12,834.I66
Q3 = Size of 3N = 3 x 5 = 15th
4
L1 = 22,001, cf =14, f=2
Q3 = 22001 + 15 -14 x 4999
2
= 22001 + 4999
2
= 24500.500
Q3 - Q1 = 24500.500 -12,834. 166

= 11,666.5
Mode = 3 median - 2 Mean
= 3 17000 - 2 18750.425
= 51,000 - 37500.85
= 13499.15

3. Price range of your current car

Price range of your current
car
Below 25000
25001 - 35000
35001 - 45000
45001 - 55000
55001 - 65000
65001 - 75000
75001 - 85000
85001 and above
Total

Freque
ncy
2
2
3
1
1
1
7
3
20

Figure 7.1: Price range of respondents current car

Price range of your current
car
Below 25000
Below 25000
25001 - 35000
25001 - 35000
35001 - 45000
35001 - 45000
35001 - 45000
45001 - 55000
55001 - 65000
65001 - 75000
75001 - 85000
75001 - 85000
75001 - 85000
75001 - 85000
75001 - 85000
75001 - 85000
85001 and above
85001 and above
85001 and above

Price
18000
22000
31000
29000
38000
42000
45000
52000
58000
72000
78000
80000
83000
85000
79000
78000
90000
150000
98000

Table 7.2: Price range of respondents car

The average price range of the respondents in a sample is AED 64,632 per
month. Modal class is AED 55,001 65,000 as the most frequently
occurring. Median is approx.=AED 72,000, inter-quartile range is approx.

between

AED

35,001

and

45,000

(41,500).

The

mode

can

be

approximated as AED 78,000.

Price range of respondents car

8
6
42
2
0

7
2

Frequency

Price Range of Cars

Figure 7: Price range of respondents car

The Figure 7 shows price range of respondents car who participated in the
survey. The highest number i.e 35% of the respondents had cars from
price range between 75,001 85,000, 15% of the respondents had cars
from price range between 35,001 -45,000 and 85,001 and above, 10%
were from price range below 25,000 and 25,001 -35,000 and lowest being
5% from price range between 65,001 75,000, 55,001 65,000 and
45,001 -55,000.
Manual Calculation:
f
2
2
3

x
20,000.5
30,000.5
40,000.5

1
1
1
7

50,000.5
60,000.5
70,000.5
80,000.5

3
20

90,000.5

fx
40001
60001
120001.
5
50,000.5
60,000.5
70,000.5
560003.
5
270000
123000
8.5

Mean:
X = fx = 61500.290
f
Inter-quartile range:

Q2 = 65000.5 + 10 - 9 10,000
1
Median = 65,000.5 + 10,000 = 75,000.5
Q1 = 5 of Nth = 20 = 5th. item
4

Q1 = 35,000.5 + 5 - 4 10,000
3
= 35,000.5 + 3333.333
= 38, 333.833
Q3 = size of 3N = 3 5= 15th
4
= 75000.5 + 15 - 10 10000
7
= 82140.5
Q3 - Q1 = 43806.667 (Inter-quartile range)

Modal class by inspection 75000.5 - 85,000.5

= L1 + (f1 f0) x i
2f1-f0-f2
L1= 75,000.5, f0 = 1, f1 = 7, f2 = 3

Mode
= 75,000.5 +

7 - 1 10,000

2x14 -1-3
= 75,000.5 +

10,000

28 -1-3

= 75,000.5 + 60,000
24
= 77500.5

4. What is the car price range you would consider purchasing for? (use
price ranges)
Car price range you would consider
purchasing
Below 25000
25001 - 35000
35001 - 45000
45001 - 55000
55001 - 65000
65001 - 75000
75001 - 85000
85001 and above
Total

Frequency
0
0
1
1
4
4
3
7
20

Table 13: Car make respondents considering to purchase

Car price
Below 25000
25001 - 35000
35001 - 45000
45001 - 55000
55001 - 65000
55001 - 65000
55001 - 65000
55001 - 65000
65001 - 75000
65001 - 75000
65001 - 75000
65001 - 75000
75001 - 85000
75001 - 85000
75001 - 85000
85001 and above
85001 and above
85001 and above
85001 and above
85001 and above
85001 and above
85001 and above

Price
0
0
42000
53000
64000
61000
65000
60000
72000
75000
70000
67000
82000
80000
83000
88000
90000
92000
150000
98000
125000
130000

Table 13: Car make respondents considering to purchase

The average price range of the respondents preferred car in a sample is

AED 74,864 per month. Modal class is AED 85001 and above as the most
frequently occurring. Standard deviation of the sample 35, 228.9. Median
is approx.=AED 73,500, inter-quartile range is approx. between AED
25,001 and 35,000 (27,750).
Manual Calculation:
f
0
0
1
1
4
4
3
7
20

x
20,000.5
30,000.5
40,000.5
50,000.5
60,000.5
70,000.5
80,000.5
90,000.5

fx
0
0
40,000.5
50,000.5
240002
280002
240000
630000
148000
5

Mean
X = fx = 74000.25
f
Median: Q2 = Size of Nth = 10th
2
Q2 = 65,000.5 + (10 - 6) 10,000 = 75,000.5
4
Inter-quartile range
Q1 = Size of N = 5th
4
Q1 = 55,000.5 + (5 - 2) 10,000 = 62,500.5
4
th

Q3 = 3 5 = 15

th

Q3 = 85,000.5 + (15-13) 10,000 = 87,857.642

7
= Q3 - Q1 = 25,357.14

Standard Deviation:

SD =

f(x - x)

2,687,944,000 / 20
1,343,972,000
= 36,660.22

Car price range that respondents will be considering

Frequency

8
6
40
2
0

7
3

Car Price Range

Figure 13: Car make respondents considering to purchase

The Figure 13 shows price range of respondents considering to
purchase car. The highest number i.e 35% of the respondents preferrd
cars of price range between 85,001 and above, 20% of the respondents
preferred cars from price range between 55001 65000 and 65,001
-75,000, 15% were from price range below 75,001 85000, 5% and
lowest being 5% from price range between 65,001 75,000, 55,001
65,000 and 45,001 -55,000.

Regression Analysis;
No.
1
2

Toyota model
2007
2013

Kilometers
146000
48000

AED
27000
51000

3
4
5
6
7
8
9
10
11
12
13
14

2008
2011
2009
2013
2008
2009
2012
2010
2009
2012
2010
2009

138000
55961
95000
73600
11000
95000
38000
31000
58159
43000
139000
102000

25000
38500
29000
45000
33000
29000
55000
42000
33500
52000
41000
36000

Table 17.1: Toyota Corolla mileage and price observations

Scatter graph in 000

60000
50000
f(x) = - 0.13x + 47970.33
R = 0.31

40000
Price, in 000 AED

30000
20000
10000
0
0

50000

100000

150000

200000

Milage, Km in 000

Figure 15: Scatter graph in 000

r=-0.83.Negative partial correlation exists between car mileage and retail

price. Correlation is quite strong.
R2=0.3122, 31% of variations in retail prices can be explained by
variations in mileages. Around 69% of variations can be explained by
other factors (car condition, car specification, etc)

Toyota
corolla
model
2007

2013

2008

2011

2009

2013

2008

2009

2012

10

2010

11

2009

12

2012

13

2010

14

2009

No.

Tota
l

Milage,
Km '000
(x)

Price,
AED'000
(y)

xy

X^2

Y^2

14,600

2,700

39,420,000

213,160,000

7,290,000

4,800

5,100

24,480,000

23,040,000

26,010,000

13,800

2,500

34,500,000

190,440,000

6,250,000

5,596

3,850

21,544,600

31,315,216

14,822,500

9,500

2,900

27,550,000

90,250,000

8,410,000

7,360

4,500

33,120,000

54,169,600

20,250,000

1,100

3,300

3,630,000

1,210,000

10,890,000

9,500

2,900

27,550,000

90,250,000

8,410,000

3,800

5,500

20,900,000

14,440,000

30,250,000

3,100

4,200

13,020,000

9,610,000

17,640,000

5,815

3,350

19,480,250

33,814,225

11,222,500

4,300

5,200

22,360,000

18,490,000

27,040,000

13,900

4,100

56,990,000

193,210,000

16,810,000

10,200

3,600

36,720,000

104,040,000

12,960,000

107,371

53,700

381,264,85
0

1,067,439,0
41

218,255,00
0

Table 17.2: Toyota Corolla workings

Retail Price
in '000 km
Price in AED

Forecast of Toyota Corolla

10
15
64
62
63767
61456

200
19
18500

Table 17.3: Toyota Corolla workings

Coefficient of correlation is quite high so our forecasted values will
lie close to our regression line. But still the number of observations is low
and we predict price outside of the given range, so we cannot conclude
with 100% confidence that our forecast is fully reliable (even if r is high).

Manual Calculations:
53,700 = 14a + b x 107,371 Equation 1
381,264,850 = a x 107,371 + b 1067439041 .
Equation 2
(7669.4 Equation 1)
7669.4 53,700 = 14 7669.4 a + b 7669.4 X 107, 371
411,846,780 = 107361 x a + 823475749 b .Equation 3
Equation 3 - Equation 2
30,581930 = -243963292 b
.'. b = - O.1253
Substitute b in Equation 1
53,700 = 14a + (-0.1253 107, 371)
= 14a - 13459.5
14a = 67,159.5
a = 4797.10
y = a + bx
y = 4797.10 + - 0.1253x