I'm not an expert with mathematics so I hope I'm posting in the right place!
I've got a lot of products which can be rated good, bad and OK by a user. What I'm having trouble with is finding which is rated the "best"- similar to Amazon's sort by rating.
Getting the average rating won't work as I want a product with 99 good ratings and 1 bad rating to rank higher than a product with just 2 good ratings. Any ideas on what type of formula to use?
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ANSWER, SORT OF:
Thanks to Raskolnikov's comment I've found out what I need is either the Wilson Score Interval (which at the minute is way too complicated) or the Bayesian rating, which can be found here- http://www.thebroth.com/blog/118/bayesian-rating.
Now I know at least what the formula I want is called, I can figure out how to get what I want.
Sports ratings usually do something similar. For example, the batting title in baseball is awarded to the player with the highest batting average, after disqualifying all players with an insufficiently large numbers of plate appearances.
– MJD Mar 24 '12 at 19:52