Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me the second, third, and fourth parts of the project. The two similar-model cars, that I chose are Ford Fusion Hybrid SE 4DR

Please help me the second, third, and fourth parts of the project.

The two similar-model cars, that I chose are Ford Fusion Hybrid SE 4DR SEDAN, and Hybrid car; Ford Fusion Hybrid SE $DR SEDAN. I made sure that the hybrid car is more expensive than the regular car, but the price difference Is not more than $5000. 00.

Regular Car: Ford Fusion HybridSE 4DR SEDAN

Price: $24,500

City MPG: 23

Hybrid Car:Ford Fusion HybridSE 4DR SEDAN

Price: $28,000

City MPG: 43

Price Difference between the two cars: $28,000$24,500=$3,500

I have Recorded the price and the city miles per gallon (mpg) rating for each car.

Regular Car: Ford Fusion HybridSE 4DR SEDAN

Price: $24,500

City MPG: 23

https://www.edmunds.com/ford/fusion/

Hybrid Car:Ford Fusion HybridSE 4DR SEDAN

Price: $28,000

City MPG: 43

https://www.edmunds.com/ford/fusion-hybrid/

Price Difference between the two cars: $28,000$24,500=$3,500

  1. Calculate the number of miles traveled per week using a website such as Google Maps. Consider weekly trips such as to work, school, childcare, etc. calculate weekly mileage for a typical week.
  2. Miles traveled on a typical week:________________________
  3. Now add 30 miles to your miles traveled to account for unplanned outings.
  4. Miles traveled on a typical week + 30 miles = TOTAL MILEAGE=____________________
  5. Record the price of one gallon of regular gas at a gas station. Feel free to use a website such as gasbuddy.com.
  6. Gas Station and approximate location:_______________________________________________ Price per gallon:______________________ Date:_________________
  7. Calculate the fuel cost per week for the hybrid car.
  8. HINT Use the following formula: Total Mileage Hybrid City MPG Gas Cost
  9. Hybrid Car Fuel Cost per week:_____________________________
  10. Calculate the fuel cost per week for the regular car.
  11. Regular Car Fuel Cost per week:____________________________
  12. Calculate the number of years it would take to make up the cost difference in purchasing a hybrid car versus a regular car. Round the answer to the nearest tenth of a year.
  13. HINT Use the following formula: Price Difference (Weekly fuel cost for a regular car -Weekly fuel cost for a hybrid car)
  14. Time to make up cost difference:____________________________________

7. Explore which variable has the greatest effect of the result for #6. Alter one of the variables in calculation and note the effect on the time required to make up the cost difference.

  1. Double your fuel cost. Recalculate your result for #6.
  2. New fuel cost:__________________
  3. New time required to make up cost difference:___________________________
  4. Increase only your total mileage by 25%. Recalculate your result for #6. New total mileage:__________________

New time required to make up cost difference:___________________________

c. Decrease only the cost of the new hybrid car by 10%. Recalculate your result for #6. New hybrid car cost:__________________

New time required to make up cost difference:___________________________

3

Analyze the results.

Which variable has the greatest effect on the time required to make up the cost difference between the two cars?

Would it be worth it to purchase a hybrid car? Explain.

Consider the following:

  • time it would take to make up the cost difference
  • how long you anticipate owning your new car
  • the intrinsic value of decreasing your CO2 emissions
  • any other considerations

Please help me the second, third, and fourth parts of the project.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Introduction to the Mathematics of financial Derivatives

Authors: Salih N. Neftci

2nd Edition

978-0125153928, 9780080478647, 125153929, 978-0123846822

More Books

Students also viewed these Mathematics questions