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Topic: [ap-stat] Car pricing
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dennis roberts

Posts: 8,600
Registered: 12/6/04
[ap-stat] Car pricing
Posted: Aug 3, 2012 4:13 PM
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I might have mentioned this before but the latest ConsumerReports
reminded me of it.
CR has a car buying service you pay for ... and they use TrueCar.com ...
as their data source. Here's a link:

http://www.truecar.com/

Try it yourself ... I tried for Toyota Camry and Honda Accord ... here's
the one for the Camry supposedly around State College PA.

http://www.truecar.com/prices-new/toyota/camry-pricing/

What pops up is a normal distribution model for this car in the stated
area ...

How come a normal distribution? Doesn't matter what the car or area is
... data are superimposed on the ND. Is that supposed to be the ideal?
Who says so?

Now, there are 2 little tabs at the top left of this graph ... Average
and Sales ... if you click the Sales one ... you get some info on how
many have been sold there at various prices. I think if you try several
... you will find that few if any look anything like a ND ... partly
because the # of sales might be small but also ... who says the ND is
even a logically good model?

I have this feeling that those who use TrueCar ... think that this graph
makes it looks statistical and therefore, scientific ...

Right!





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