Relationship of costs of a product to increasing product ratings

dross

New Member
Joined
Dec 19, 2010
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27
I have a California red wine collection. For each wine I have the Name of the wine (Col A), release year (Col B), Cost (Col C) and Rating on a 100 point scale from my favorite rating source (Col D). The costs of the wines in Col C have been normalized to same year dollars.

It has always been my sense that as the rating of a wine increases the cost increases at a faster (non-linear) rate. In order to evaluate the cost-quality value of previous buying decisions and inform future decisions I would like to:

  • figure out how to confirm that the cost to increasing value as determined by rating is non-linear
  • calculate what a typical wine with a given rating did/should cost based on my data (whether it is possible to create a single factor that could be multiplied by the rating to come up with a target cost, or by figuring out a different cost factor for each rating, e.g., 85-100, or whatever)

I'm trying to figure out if a given wine at a given price and rating is a good value relative to other buying opportunities.
 

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dross

New Member
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Dec 19, 2010
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27
Ok, I've keep grinding and I have figured out what I need to know.
 

shg

MrExcel MVP
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May 7, 2008
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Office Version
2010
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An easy way to do it visually would be to scatter-plot rating vs cost, maybe add a trendline.
 
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