Statistical Analysis on Scope Pricing :
The other day while looking at scope prices I wondered what parts of the scopes in today's prices attribute to the scopes costs? I took my data from SWFA and Midway, I only included scopes that are out and that are FFP. I took data from 20 different scopes and came out with these variables: Zerostop (true mechanical zerostop), 30mm, 34mm, 35mm, Power ratios 1-3,1-4,1-5,1-6,1-6.5, Illumination, turrets with 10mils or more per rotation. Now my model is no way close to being truly accurate and only covers optics with FFP, mill turrets and from these manufactures: Premier, IOR, Nightforce, S&B, and Zeiss (USO and Leupold had to be thrown out).
Here is the mathematical model that I came up with that determines pricing:
Price = $746 + $433zerostop + $1186 (34mm) + $489 (1-4 power ratio)
+ $785 Turrets 10 mils or larger per turn
Note if a scope has one of the features 1 is yes and 0 is no. For example Premier 5-25 X 50 scope pricing would look like such: $3150=$746 + $433(1) + $1186 (1) + $489(0)
+ $785(1)
Or the new 3-15X50 weaver pricing would be:
$746= $746 + $433(0) + $1186(0)+ $489(0)
+ $785(0)
As you see the Premier pricing is somewhat close $3150 vs listed at $3199
and the weaver is $746 vs listed at $749
What I found was interesting was that just having a 34mm tube you can expect your scope to cost $1186 extra vs one that doesn't. Also turrets with 10 mil or greater will set you back an additional $785. I am going to make a larger data set that incorporates all tactical scopes which I should be done with at the end of the month. I am also going to add some more variables such as location of manufacture, max magnification, and some others. If you guys can think of other variables please tell me. I am still only going to look at FFP with Mil turrets.
For those who care here is the formula more in depth with R-sq values. Also set my Alpha level at .05
Predictor Coef SE Coef T P
Constant 746.0 206.0 3.62 0.011
zerostop 433.1 171.4 2.53 0.045
34mm 1186.4 219.8 5.40 0.002
1-4 489.5 171.4 2.86 0.029
Turrets 10 mils& or greater 785.3 245.0 3.20 0.018
S = 265.503 R-Sq = 95.5% R-Sq(adj) = 92.5%
Note: All other variables not listed proved to be insignificant in determining price.
The other day while looking at scope prices I wondered what parts of the scopes in today's prices attribute to the scopes costs? I took my data from SWFA and Midway, I only included scopes that are out and that are FFP. I took data from 20 different scopes and came out with these variables: Zerostop (true mechanical zerostop), 30mm, 34mm, 35mm, Power ratios 1-3,1-4,1-5,1-6,1-6.5, Illumination, turrets with 10mils or more per rotation. Now my model is no way close to being truly accurate and only covers optics with FFP, mill turrets and from these manufactures: Premier, IOR, Nightforce, S&B, and Zeiss (USO and Leupold had to be thrown out).
Here is the mathematical model that I came up with that determines pricing:
Price = $746 + $433zerostop + $1186 (34mm) + $489 (1-4 power ratio)
+ $785 Turrets 10 mils or larger per turn
Note if a scope has one of the features 1 is yes and 0 is no. For example Premier 5-25 X 50 scope pricing would look like such: $3150=$746 + $433(1) + $1186 (1) + $489(0)
+ $785(1)
Or the new 3-15X50 weaver pricing would be:
$746= $746 + $433(0) + $1186(0)+ $489(0)
+ $785(0)
As you see the Premier pricing is somewhat close $3150 vs listed at $3199
and the weaver is $746 vs listed at $749
What I found was interesting was that just having a 34mm tube you can expect your scope to cost $1186 extra vs one that doesn't. Also turrets with 10 mil or greater will set you back an additional $785. I am going to make a larger data set that incorporates all tactical scopes which I should be done with at the end of the month. I am also going to add some more variables such as location of manufacture, max magnification, and some others. If you guys can think of other variables please tell me. I am still only going to look at FFP with Mil turrets.
For those who care here is the formula more in depth with R-sq values. Also set my Alpha level at .05
Predictor Coef SE Coef T P
Constant 746.0 206.0 3.62 0.011
zerostop 433.1 171.4 2.53 0.045
34mm 1186.4 219.8 5.40 0.002
1-4 489.5 171.4 2.86 0.029
Turrets 10 mils& or greater 785.3 245.0 3.20 0.018
S = 265.503 R-Sq = 95.5% R-Sq(adj) = 92.5%
Note: All other variables not listed proved to be insignificant in determining price.
