uko111
06-23-2009, 05:36 PM
So this may be a silly question, but i dont know the proper way of doing it.
so say i have 200 numbers that represent the weights of bowling balls company xyz produces. the company doesn't have a charging structure set up to bill consumers, and want to do it based off the weight of the ball. but instead of individual price per lbs or something like that, they want to segment these prices into binned ranges. what would be the best way to do this?
this is a simplified model of my system, so ignore market demand and things of that nature. i want to set this up simply based off of what is currently being produced.
would a good way be to use the standard deviation? so (1 x Std Dev) = The Cap of Price Range #1, (2 x Std Dev) = The Cap of Price Range #2, etc. I want to be able to charge overages after a certain weight is reached, so relevant bins are important.
so say i have 200 numbers that represent the weights of bowling balls company xyz produces. the company doesn't have a charging structure set up to bill consumers, and want to do it based off the weight of the ball. but instead of individual price per lbs or something like that, they want to segment these prices into binned ranges. what would be the best way to do this?
this is a simplified model of my system, so ignore market demand and things of that nature. i want to set this up simply based off of what is currently being produced.
would a good way be to use the standard deviation? so (1 x Std Dev) = The Cap of Price Range #1, (2 x Std Dev) = The Cap of Price Range #2, etc. I want to be able to charge overages after a certain weight is reached, so relevant bins are important.