The Car Market Within the UAE - Free Essay Example

Sample details Pages: 7 Words: 2158 Downloads: 6 Date added: 2017/06/26 Category Transport Essay Type Narrative essay Did you like this example? INTRODUCTION: Its not just the new cars who face a strong market in the UAE, but also the used cars have always been very much in demand. à ¢Ã¢â€š ¬Ã…“The used car market in the UAE is worth around US$2.5 billion in business and it is growing by a strong 15 per cent annually,à ¢Ã¢â€š ¬Ã‚  according to Kerem Kuyucu, the managing director of Carmudi Middle East, an online marketplace for new and pre-owned cars. (Scott, 2014) Predicting the price of a used car is both an important and an interesting matter. Don’t waste time! Our writers will create an original "The Car Market Within the UAE" essay for you Create order According to data obtained from the Roads and Transport Authority, the number of light vehicles registered between 2009 and 2014 is more than a million which is a jump of about 80% of the cars registered solely in 2009. With respect to the economic conditions since 2009, the sale of second hand and reconditioned cars has ever since been on an increase. Predicting the resale value of a car is not a an easy task. It is common knowledge that the value of the used cars will depend on a number of factors. The most important being the age of the car, its make (and model), the origin of the car (i.e the original country of the manufacturer), its mileage (referring to the kilometres it has run) and of course its horse power. Additionally, due to the increase in fuel prices, the average fuel consumption of the car is also a crucial factor. Sadly though, most of the people do not know the exact figure for the fuel their car consumes per km driven. Moreover, factors like the type of fuel the car consumes, the interior style, the braking system, acceleration, the volume of of its cylinders (measured in cc), safety index, its size, number of doors, body colour, weight of the car, size of the tyres used for the car, type of wheels and wheel caps, consumer reviews, the fame associated with the manufacturer of the car, its physical state, it has cruise control or not, whether it has a sun roof, incorporates a manual or automatic transmission, whther it belonged to an individual or a company as well as other options such as how good is the air conditioner of the car, what type is the sound system, whether it is has a power steering, cosmic wheels, GPS navigator, all such factors may influence the price of the vehicle. In the UAE certain other special factors which buyers afix importance to is the nationality of the previous owners, whether the car had been involved in any serious accidents and whether it is a lady-driven car. Furthermore, the look and the feel of the vehicle definitely add a lot to the value of the car. Therefore, we can see that the price of the car depends on a variety of factors. Unfortunately though, all of the information regarding each factor is not usually available and the buyer has to make the final decision of purchasing the car at a particular price based on a limited factors only. In this research paper we shall also be focusing only on some of the factors mentioned above. Regression analysis is a method of estimating the relationship between several variables. Sample data is usually collected to investigate the relationship between a dependent variable and one or more independent variables. This method includes many techniques for creating the best fit model by the analysis of the variables. Multiple regression is merely an extension of simple regression. Usually, a model is simply called an equation. Model can be used to predict weather, the performance of the stock market, sales, profits, river levels, and so on. ( Zainodin Khuneswari, 2009). Multiple regression can also be used for predicting the prices of houses as well as the value of used cars in the market. This paper shall be focusing on the latter use of multiple regression. PROBLEM STATEMENT: PURPOSE OF THE STUDY: This study is being done on behalf of a market research company on the second hand car market in the UAE. The focal point of this study is to determine the market value of a specific model and manufacturer by taking into consideration certain factors related to the vehicle. The study shall also be concentrating on creating a model for the company, which it can use to estimate the market value of the car using limited number of factors. The manufacturer under focus in this study is Toyota and the car is Land Cruiser, taking into account the models from 2009 till 2014. DEFINITIONS OF TERMS: LITERATURE REVIEW: In our attempt to understand how the second hand car market in the UAE works, we must be able to breakdown how the car models and their prices are analyzed by their buyers. There are certain definable characteristics and attributes to cars that contribute to the overall appeal and market value that a given car elicits. Essentially, any type of good or commodity can be viewed as a package with many different characteristics that add or subtract to the overall value of that particular good. This is the same for car market as well. A car is simply a combination of characteristics (such as color, price, model, mileage, etc.) that all together contribute in some measurable way to the ultimate value that a particular buyer places on that car. To analyze the varying prices of the second hand cars in relation to their different characteristics, in this paper we shall use multiple regression analysis along with descriptive analysis and hypothesis testing. MULTIPLE REGRESSION: Multiple regression is a generalization of the simple linear regression analysis. Simple regression analysis could analyze a relationship between dependent variable with a single independent variable. The same idea was used to analyze relationship between a dependent and two or more independent variables. (Nikolopoulos, Goodwin, Patelis, Assimakopoulos, 2007) suggested that multiple lregression is a common choice of method when a forecast is required and where data on several relevant independent variables are available. This technique has been widely used to produce forecasts in a wide range of areas and there is evidence that it is often used by companies to derive forecasts of demand from marketing varaibles and various macroeconomic measures. Multiple regression has been successfully used in many business applications. For example, (Evans Olson, 2003) studied the NFL data, it would be logical to say that the number of Games WON would not only on Yards Gained but also on the other variables like Takeaways, Giveaways, Yards Allowed and Points scored. Multiple linear regression is a popular method for producing forecasts when data on relevant independent variables is available. DESCRIPTIVE ANALYSIS: Descriptive statistics are used to describe the basic features of the data in a study. They provide simple summaries about the sample and the measures. Together with simple graphics analysis, they form the basis of virtually every quantitative analysis of data. Descriptive Statistics are used to present quantitative descriptions in a manageable form. In a research study we may have lots of measures. Or we may measure a large number of people on any measure. Descriptive statistics help us to simplify large amounts of data in a sensible way. Each descriptive statistic reduces lots of data into a simpler summary. For instance, consider a simple number used to summarize how well a batter is performing in baseball, the batting average. This single number is simply the number of hits divided by the number of times at bat (reported to three significant digits). A batter who is hitting .333 is getting a hit one time in every three at bats. One batting .250 is hitting one time in four. T he single number describes a large number of discrete events. STATISTICAL HYPOTHESIS TESTING: It is common knowledge that researchers usually wish to demonstrate that the phenomenon in question is present (i.e., reject the null hypothesis in the favor of the alternative one). However, there are instances in which researchers do have a priority, theoretically justified reasons to hypothesize formal, statistical null relationships. (Cohen, 1990; Cortina Dunlap, 1997; Cortina Folger, 1998; Greenwald, 1975, 1993). Support for positing and testing null relationships between variables of interest is offered by Greenwald (1993), who noted that à ¢Ã¢â€š ¬Ã…“scientific advance is often most powerfully achieved by rejecting theories. A major strategy for doing this is to demonstrate that relationships predicted by a theory are not obtained, and this would often require acceptance of a null hypothesisà ¢Ã¢â€š ¬Ã‚  (p. 421). Others have argued that the tenability of the null hypothesis is as legitimate a goal of research as is demonstrating the tenability of any alternative hypo thesis (Chow, 1996; Cortina Folger, 1998; Frick, 1995; Nickerson, 2000). We do believe that theoretically based arguments that lead researchers to predict null relationships between their research variables of interest are justified. The formal statistical procedure for performing a hypothesis is to state two hypothesis and to use an appropriate statistical test to reject one of the hypotheses and therefore accept (or fail to reject) the other one. The first hypothesis is usually referred to as the Null hypothesis because it is the hypothesis of no effect or no difference between the populations of interest. It is usually given the symbol H0. On the other hand, the second hypothesis is usually the Alternative Hypothesis by statisticians, but since it is often the hypothesis that the researcher would like to be true, it is also sometimes referred to as the Study Hypothesis or Research Hypothesis. This is give the symbol H1 OR HA. The Alternative Hypothesis states that there is an effect or that there is a difference between the populations. HYPOTHESIS ANALYSIS: Furthermore, in this study we conducted hypothesis tests on some of the variables of our report. Paired sample t-tests were performed on the model year and the price of the respective car models. The following tables show the results of the tests performed in the SPSS Statistical Software. Paired Samples Statistics Mean N Std. Deviation Std. Error Mean Pair 1 Model Year 2011.70 80 1.672 .187 Selling Price 171152.50 80 45514.126 5088.634 The above table shows that for a mean of 2011 (for the model year), with the standard deviation at 1.672, the selling price is calculated to be at a mean of 171152.50 with a standard deviation of 45514.12. Paired Samples Test Paired Differences t df Sig. (2-tailed) Mean Std. Deviation Std. Error Mean 95% Confidence Interval of the Difference Lower Upper Pair 1 Model Year Selling Price -169140.800 45512.738 5088.479 -179269.164 -159012.436 -33.240 79 .000 The above table shows that overall mean of the model year and the selling price is 169140.8 with a standard deviation of 45512.73. These tables were obtained by the SPSS statistical software by applying paired-samples t-test to compare the model year and the selling prices of the Land Cruisers discussed in this report. The results thereby, show that the mean selling price is 169140.8 for these cars with a standard deviation of 45512.73. The value of the t-test is 33.240 and the degree of freedom is 79. These results suggest that the model year really does affect the price of the Land Cruiser. Specifically, our results suggest the older the carà ¢Ã¢â€š ¬Ã¢â€ž ¢s model year the lower the price of the car will be and vice versa. A Pearson product-moment correlation coefficient was computed to assess the relationship between the model year of the Land Cruisers and their respective selling prices. Correlations Model Year Selling Price Model Year Pearson Correlation 1 .830** Sig. (2-tailed) .000 N 80 80 Selling Price Pearson Correlation .830** 1 Sig. (2-tailed) .000 N 80 80 **. Correlation is significant at the 0.01 level (2-tailed). The above table suggests that there was a positive correlation between the two variables, r = 0.830, n = 80, p = .000. A scatterplot summarizes the results (Figure 1). Overall, there was a strong, positive correlation between the model year of the cars and the selling prices. Increase in model year (latest model) results in a higher selling price of the car. Bibliography Chow, S. L., 1996. Statistical significance: Rationale, validity and utility. Thousand Oaks, California: Sage Publications. Cohen, J., 1977. Statistical power analysis for the behavioral sciences. Rev ed. New York: Academic Press. Cohen, J., 1990. Things I have learned (so far). American Psychologist, Volume 45, pp. 1304-1312. Cortina, J. M. Dunlap, W. P., 1997. On the logic and purpose of significance testing. Psychological Methods, Volume 2, pp. 161-172. Cortina, J. M. Folger, R. G., 1998. When is it acceptable to accept a null hypothesis: No way, Jose?. Organizational Research Methods, Volume 1, pp. 334-350. Evans, J. R. Olson, D. L., 2003. Statistics, Data Analysis and Decision Modeling. 2 ed. New Jersey: Prentice Hall. Frick, R. W., 1995. Accepting the null hypothesis. Memory Cognition, Volume 23, pp. 132-138. Greenwald, A. G., 1975. Consequences of prejudice against the null hypothesis. Psychological Bulletin, Volume 82, pp. 1-20. Greenwald, A. G., 1993. Consequences of prejudice against the null hypothesis. In: K. G L. C, eds. A handbook for data analysis in the behavioral sciences: Methodological Issues. Hillsdale, New Jersey: Lawrence Erlbaum, pp. 419-448. Nickerson, R. S., 2000. Null hypothesis significance testing: A review of an old and continuing controversy. Psychological Methods, Volume 5, pp. 241-301. Nikolopoulos, K., Goodwin, P., Patelis, A. Assimakopoulos, V., 2007. Forecasting with cue information: A comparison of multiple regression with alternative forecasting approaches. European Journal of Operational Research, 180(1), pp. 354-368.

Ict in the Film Industry - 3227 Words

ICT AND FILM INDUSTRY Digital technology in the past decade has totally changed the movie industry. Focusing on the crucial procedures of movie making and the impact that technology had on each of the areas, this research would look at recent reforms in the pre-production part of film making, furthermore we will try to know the new instruments, equipment and storage facilities being used by modern film makers and producers. Film distribution and the adverse impacts that technology has had on the movie industry, majorly on the illegitimate sale and piracy of copyrighted material is scrutinized. Post-theatre film distribution and the revolutionary breakthrough technologies in the industry are explored to look at the continuous changes in†¦show more content†¦The same technology also has the capability to rearrange the video and audio on the DVD/CD so that only a DVD with the same decryption algorithm can play the film perfectly. The CSS technology is also designed to prevent users from direct copy ing of data from DVDs. Though, not long after the CSS technology was introduced, Norwegian teenagers reverse engineered a DVD technology by breaking the code that contain the decryption algorithm and uploaded decryption software for users around the world to use. These means that the movie industry would need to keep updating and also find and option to this difficulties (markman). The post-theatre market accounts roughly for three quarters of movie’s income during its lifetime. The principal of these are video rental shops which accounts for nearly half of all profits (). The DVD has completely brought a new dimension to the industry, becoming the fastest growing customer electronics item of all time (culkin Randle 2003). DVD’s have undeniably increased film studio’s income when it decided to provide movie content to the home consumers with unbelievable picture and sound quality which does not worn out like the old VHS cassettes (markman). A new and rapidly developing area in the distributionShow MoreRelatedEssay Music and Entertainment Industry: Digital TV and MP3s702 Words   |  3 Pages In the world nowadays, ICT has been responsible for assisting in the development of entertainment. One of the things that are mainly used in music entertainment now is the MP3 files which contain music. This technology is often used to play music with digital music players such as MP3 players and iPods. This now revolutionised the entertainment as it now allows people to listen to music without the need for a physical product for the players to play music off of such as using cds it is now quickerRead MoreE Business Technologies By O. Jones And F. 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Doing Christian Ethics from the Margins free essay sample

Book Review: Doing Christian Ethics from the Margins Dr. David Traverzo Christian Ethics Gregory A. Keels 02/13/2012 Doing Christian Ethics from the margins is all about helping people explore the ethical issues of the marginalized. This book reveals as to how people who live in the margins of society deal with ethics. Also this book reveals how the same marginalized people worldview is different from the dominate culture who is not apart of the marginalized. This book is divided into four sessions, the first section dealing with theory while the last three gives specific case studies to the theory. The first session titled Ethical Theory deals with how Christian ethical systems are formed. The author Miguel A. De la Torre gives his understanding of ethical theory. The first main and important statement he makes in this section is when he talks about ethics being done in a particular social location. When he stated that it proved that ethics and social welfare comes together. We will write a custom essay sample on Doing Christian Ethics from the Margins or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page A person’s upbringing and social surroundings affects his or her ethics. Also in this section the author talks about how white males generally dominated the academic ethics. This domination has many pitfalls. Some of these pitfalls include spiritual concerns that are excluded from social concerns, individualism, grace in favor of works, thinking more of heaven instead of the here and now, and failure to come up with a transformation praxis. These pitfalls reinforce ideologies of power that are connected to unjust social structures that include racism, classism, and sexism. The author puts up a challenge to every single reader to come up with a code of ethics that will identify with the example of Christ of standing against the ppressed. In the other three parts of the book the author gives case studies and show how his own hermeneutic circle applied to different ethical situations such as relationships, business, and global relationships. in each section there are four chapters. the first chapter explains the topics and the other three explains the topic with case studies. The hermeneutic circle is made up of five steps. In each of those five steps a per son’s worldview ethics is challenged and encourages the person to be more engaged in social transformation. The steps include observing, reflecting, praying, acting, and releasing. This pattern is a continuous circle repeating itself over and over. The significance of this book to the church is great significance. This model the author has presented could be used greatly in the church. When I was looking at this model I felt this is what the church should be doing. The church is only effective if it is active in the community. The church should be able to see what the need of the community, pray on it, act on it and then move onto the next need. Part of Christian ethics is doing the right thing when the problem is presented. Two of the case studies that I felt can greatly impact the church was the case studies on global and national poverty. the church has always played a major role in helping the poverty both globally and nationally. However I believe that the church need to realize that poverty is more then just not having any food or being homeless. Poverty is connected to social class. It is connected to those who can afford an education and those who can not. Poverty is also connected to those who can get hired for the high paying jobs and those who can only get the jobs that pay minimum salary and is not enough to raise a family. The church can do a better job in helping in that area. The main part of a Christian’s ethics is helping those who are in need. This is our primary responsibility. So in order to fulfill that responsibility we must understand the whole issue of poverty. The significance this book has on the society can be great. However I believe the church and society must be connected together. This helps those who read it understand the problems of the marginalized and how it can be addressed. It would be really helpful if those who were from the groups who hold the most power read this book for a better understanding of how the actions they do affect those who are marginalized. Just like I stated with the church and its response to poverty the society has to have the same response. However since the society is not the church the ethical response would be different. Those who are in high powerful positions have the ethical obligation to assist those who are in the marginalized. However what we see is those people exploiting the marginalized. When it comes to ethics as a whole this book as revealed to me no matter what position you are connected to rather it is Christian ethics, business ethics, or society ethics you have an obligation to help those who do not have the power to help themselves. It is not just about poverty either. There is an ethical obligation to help the marginalized when it comes to things like affirmative action, war, the environment etc. A strength I found in this is how the author used real life examples in his case studies that included people who were marginalized. By using real life stories it brought a whole new experience than from a typical text book. This help take the readers from a spectator view to an up close and personal view of what it is like to be in the marginalized. Another strength I felt the author had was the discussion questions at the end of each chapter. These discussion questions help the reader reflect and understand more about the marginalized. Also these discussion questions help the reader form a more solid ethic for the marginalized. The main weakness I saw in this book is how the author did not really go through the whole hermeneutic cycle. In each case study the first three cycles were used. It would have been better if the author used the whole cycle so that the reader could get a full example of how the cycle is used and the outcome of the cycle. Also it would have been helpful if the author had given some examples where this cycle has not worked. Perhaps it would even be helpful if the author had limited to just once case study in each section and go more in depth as to how the cycle worked in the case study. Overall I strongly recommend this book to those who have a desire to get an action plan that will have an impact on dealing with the marginalized. De La Torre makes a great case in challenging those who are in the dominate culture to give up the heavy power and special privilege they have so that those who are in the marginalized can live a better life. With making this challenge the author has given great tools for those who are committed to seeing the transformation of the marginalized. While this seem like a no brainer to some it might be still difficult for those in the dominate culture to accept. Some people might just not see how the dominate culture affects the marginalized while others feel they are doing just enough. Also you might get those who will say they will embrace De La Torre’s model but will fail to actually attempt to do it. It is going to take a lot of work and sacrifice to see true change. Who is willing to actually do that hard work? Who is going feel it is actually worth it? Regardless of where you fit in the spectrum we all have to do our part. If we all do not step in and say we are willing to make the sacrifices need to see a transformational change then regardless of what one group does it will not work. this has to be a group effort. I believe this is the point De La Torre was trying to bring across.