Vintage Wines and Mature Wines

The article read by Team B emphasizes how weather can predict the quality of vintage wines and other mature wines when in the growing season. The production of vintage wines has been replicated for centuries with little to no change of land or technique. It was hypothesized in the beginning parts of the article that weather does play a significant role in predicting the cost of mature wines vs. young wine pricing. Several questions such as: Why don’t purchasers wait until the wine has fully matured, and why is the weather not a factor when determining the wine price to buyers. Vintage wines are produced by specific land plots where the grapes are grown.

Table 1

By reviewing Table 1 in the article (page 4), Team B observed the market price of Bordeaux Chateaux wines from 10 vintages wines from the years 1960 to 1960 in London. The six (6) Chateau’s were chose from a reputation of being mass producers of vintage wine and the maturity levels of the wine. By the 1990’s the maturity levels of the wine in the data table had matured 100 percent.

Table 1 shows the variances of the six Chateau’s and their ranking order of quality. By looking at the data, Team B sees the differences in price from vintage to vintage. The article explained the variability to be caused from the rate of return on older, more mature wines, and the quality of the grapes to make the wines differ in each Chateau. The information in Table 1 derives from a testable hypothesis to conclude whether or not the age of wine plays a role in its selling price. The Chateau’s were intentionally chosen because of historically being the most expensive cost of wine. The table uses the data from a regression of logarithm to construct a index of vintage price.

Figure 1: Scatter Diagram

The data from Table 1 was than used for a scatter plot to further test the hypothesis. The scatter plot used data from the vintage year of the wine and the price of the wine. The outcome of the scatter plot correlates to...