MDM4U - Culmulating Project

Project Conclusions

So why am I paying so much for car insurance and what have I learned? While searching for an area of interest and locating data I discovered that limitations and validity of data can seriously weaken or strengthen our project and our focus and direction can change at any time. I also discovered that format may also change and restructuring to strengthen the project may be needed. A lot of research and work went into this project that didn't make the final culminating project. This would seem to reflect a lot of statements concerning the importance of behind-the-scenes work. Since our exploration accident rates and age showed that there is a linear reduction in our chances of being in a collision as we get older, understanding why we, being young drivers, pay more for insurance is fairly simple: we have a greater chance of being in an accident. Although insurance rates are extremely high for young adults they do decrease in a non-linear regression and is much more reasonable by our mid-twenties.

With our exploration into probability we can say that there are a greater amount of licensed 35-44 year olds and thus we have a greater probability of finding them on the road. Since they are the largest population of licensed drivers they are killed more often in collisions and are in the most collisions. However, 18 year olds have the highest percentage concerning their age population of being in an accident.

While investigating simulation we saw that sample composition of male and female drivers could change quite a bit from sample to sample, not only in terms of totals but also in the order of which they appeared. We compared our simulation data to a normal distribution by comparing their properties. Namely, 50% of the data lies on each side of the mean and comparing the amount of data within 1,2, and 3 standard deviations from the mean.

I have learned a lot while doing this project, not only about car insurance and accident rates, but also in the amount of work and organization required to do research. It is disappointing however to report that insurance rates are so high for young adults because of something they can't change, their age. So consider high insurance rates as a cost associated with a youth so many would like to have back.

<<Section 2e


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		Project Conclusions So why am I paying so much for car insurance and what have I learned? While searching for an area of interest and locating data I discovered that limitations and validity of data can seriously weaken or strengthen our project and our focus and direction can change at any time. I also discovered that format may also change and restructuring to strengthen the project may be needed. A lot of research and work went into this project that didn't make the final culminating project. This would seem to reflect a lot of statements concerning the importance of behind-the-scenes work. Since our exploration accident rates and age showed that there is a linear reduction in our chances of being in a collision as we get older, understanding why we, being young drivers, pay more for insurance is fairly simple: we have a greater chance of being in an accident. Although insurance rates are extremely high for young adults they do decrease in a non-linear regression and is much more reasonable by our mid-twenties. With our exploration into probability we can say that there are a greater amount of licensed 35-44 year olds and thus we have a greater probability of finding them on the road. Since they are the largest population of licensed drivers they are killed more often in collisions and are in the most collisions. However, 18 year olds have the highest percentage concerning their age population of being in an accident. While investigating simulation we saw that sample composition of male and female drivers could change quite a bit from sample to sample, not only in terms of totals but also in the order of which they appeared. We compared our simulation data to a normal distribution by comparing their properties. Namely, 50% of the data lies on each side of the mean and comparing the amount of data within 1,2, and 3 standard deviations from the mean. I have learned a lot while doing this project, not only about car insurance and accident rates, but also in the amount of work and organization required to do research. It is disappointing however to report that insurance rates are so high for young adults because of something they can't change, their age. So consider high insurance rates as a cost associated with a youth so many would like to have back. <<Section 2e