Scott is planning to buy a new car. He intends to trade in his existing car, a 2001 Chrysler Concorde in good condition. Using the table below, estimate how much Scott's car is worth.
| Model/Year | 2000 | 2001 | 2002 | 2003 | 2004 |
| :---------- | :------- | :------- | :------- | :------- | :------- |
| Pacifica | $2,194 | $2,288 | $2,605 | $2,690 | $2,814 |
| Concorde | $1,842 | $1,998 | $2,180 | $2,781 | $2,925 |
| Sebring | $2,920 | $3,075 | $3,260 | $3,551 | $3,912 |
| 300M | $2,770 | $2,934 | $3,095 | $3,188 | $3,676 |
A. $2,781
B. $1,842
C. $2,288
D. $1,998
Please select the best answer from the choices provided
Answer (1)
Locate the 'Concorde' model in the table.
Find the value corresponding to the year '2001' for the Concorde model, which is $1 , 998 .
Compare the value with the given options.
The estimated value of Scott's car is $1 , 998 .
Explanation
Understanding the Problem We are given a table that shows the estimated value of Chrysler cars in good condition for different models and years. Scott has a 2001 Chrysler Concorde in good condition, and we need to find the estimated value of his car using the table.
Locating the Value First, we need to locate the 'Concorde' model in the table. Then, we need to find the value corresponding to the year '2001' for the Concorde model.
Finding the Value Looking at the table, we find the 'Concorde' model and the year '2001'. The value at the intersection of 'Concorde' and '2001' is $1 , 998 .
Selecting the Correct Answer Now, we compare the value obtained from the table with the given options. The value $1 , 998 matches option d.
Final Answer Therefore, the estimated value of Scott's 2001 Chrysler Concorde in good condition is $1 , 998 .
Examples
Estimating the value of a used car is a practical application of reading and interpreting data from tables. For example, when selling a used car, you can consult pricing guides or similar tables to determine a fair asking price. Similarly, when buying a used car, you can use these tables to assess whether the asking price is reasonable. This skill is also useful in other contexts, such as estimating the value of other assets or interpreting statistical data in various fields.
