Determination of residual value of construction machinery based on machine age

Sa？etak The relationship between the residual value and service life of machines is investigated in the paper. The study resulted in establishment of several models based on symbolic regression, where the dependent variable is the residual value, while independent variables are machine models, machine age, cumulative number of machine operating hours, and inflation index. The estimate of residual value is crucial for making investment decisions. The investigation has shown that development of a general prognostic mathematical model of residual value of construction machinery can be made using symbolic analysis of an available set of data formed of 61,153 machines