Relationship of costs of a product to increasing product ratings

dross

New Member
Joined
Dec 19, 2010
Messages
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.
 

Excel Facts

Move date out one month or year
Use =EDATE(A2,1) for one month later. Use EDATE(A2,12) for one year later.
An easy way to do it visually would be to scatter-plot rating vs cost, maybe add a trendline.
 
Last edited:
Upvote 0

Forum statistics

Threads
1,223,236
Messages
6,170,912
Members
452,366
Latest member
TePunaBloke

We've detected that you are using an adblocker.

We have a great community of people providing Excel help here, but the hosting costs are enormous. You can help keep this site running by allowing ads on MrExcel.com.
Allow Ads at MrExcel

Which adblocker are you using?

Disable AdBlock

Follow these easy steps to disable AdBlock

1)Click on the icon in the browser’s toolbar.
2)Click on the icon in the browser’s toolbar.
2)Click on the "Pause on this site" option.
Go back

Disable AdBlock Plus

Follow these easy steps to disable AdBlock Plus

1)Click on the icon in the browser’s toolbar.
2)Click on the toggle to disable it for "mrexcel.com".
Go back

Disable uBlock Origin

Follow these easy steps to disable uBlock Origin

1)Click on the icon in the browser’s toolbar.
2)Click on the "Power" button.
3)Click on the "Refresh" button.
Go back

Disable uBlock

Follow these easy steps to disable uBlock

1)Click on the icon in the browser’s toolbar.
2)Click on the "Power" button.
3)Click on the "Refresh" button.
Go back
Back
Top