This is a fairly simple problem that likely has a simple solution but I am not unsure of my technique so thought I would share this here. I am also not positive if this is the right Stack to post to, so my apologies if it doesn't belong here
I am looking at buying a used motorcycle. I would like to create a simple ratio for the bikes based on three criteria: mileage, price, and age/manufactured year.
My initial thought was to multiply age and mileage to get a MileAge factor. The lower this number, the better the quality of the bike. I would then divide the MileAge factor by the price of the bike, to get value. Assuming these are the only things I care about, and they are equally weighted to me, is this the correct way to measure the relative value of one bike to another?
How would I modify this to account for weighted interests? Say I believe mileage should represent 50% of the value of the bike, and the other two at 25%?
Finally, what would be a good way of visually representing the different bikes? My thought was a scatter plot but I am not sure what would make a good axis.
