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:
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.
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.