Tag Archives: budget

Arbitrary Value Rating Lookup Table

2012 Canadian Penny
The penny would get a low value rating as it costs more to produce than it is worth. In fact, Canada has now discontinued its production as of May 2012.

If you are looking for an easy way to compare values of a given subset I have created a simple lookup table for arbitrary value vs. rating. For example a $10 item scoring 10 points would have a value of 10 such that the rating is determined by squaring the item’s score divided by the price of the item. It is very useful for rating items in the range of $10-$100 and can be easily manipulated to represent the value of any range by factoring the value of the lowest priced item in the range to equal 10, such that for a range of $100-$1000 the price would be factored by 0.1 (100 x 0.1 = 10).

 

 

Here is the simple math:

10 = MIN_PRICE x FACTOR

VALUE = (RATING x RATING) / (MIN_PRICE x FACTOR)

Read on to see a sample lookup table. Continue reading Arbitrary Value Rating Lookup Table