So time for some numbers. The first two numbers are unrealistic non real world hypotheticals to give you an idea of a range.
So assuming for some reason turbo was turned off we have a 2.4 ghz quad core vs a 2.2 ghz quad core or a difference of 9.1%
So assuming turbo works perfectly well and you are always running the cpu at the max turbo since you have perfect cooling, and intel has perfect sensors with perfect software. In such a situation the i7 4700 works like this.
Max Turbo for i7 4700MQ: 3.4 ghz max single core, 3.3 ghz max dual core, 3.2 ghz max tri core or quad core.
Max Turbo for i7 4702MQ : 3.2 ghz max single core, 3.1 ghz max dual core, 2.9 ghz max tri or quad core.
% difference between i7 4700MQ and i7 4702MQ: 6.3% single core, 6.5% dual core, 10.3% tri or quad core.
These numbers I just posted are not real world for in those numbers turbo does not work at all or it works perfectly.
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Now in real life one laptop with the same chip may work differently than another laptop with the same chip due to the manufacture cooling. If the chip gets better cooling in theory it can turbo to higher states and stay within turbo for longer periods of time and thus perform better. Also even if you get identical model number chips one may perform slightly better than another due to how turbo works since in real life not all chips work perfectly the same with voltages and such.
The next numbers are from notebook check and they take an average of different laptops. They still give you an idea.
Intel Core i7-4702MQ
Cinebench R11.5: CPU Multi 64Bit: min: 5.22 avg: 6.6 (54.26%) max: 7 Points
18 laptops tested
Cinebench R11.5: CPU Single 64Bit: min: 1.27 avg: 1.5 (78.68%) max: 1.54 Points
18 laptops tested
3DMark Vantage: P CPU no PhysX 1280x1024: min: 17910 avg: 22083.5 (59.71%) max: 23868 Points
19 laptops tested
Intel Core i7-4702MQ
Cinebench R11.5: CPU Multi 64Bit: min: 5.89 avg: 6.2 (51.15%) max: 6.36 Points
5 laptops tested
Cinebench R11.5: CPU Single 64Bit: min: 1.4 avg: 1.4 (74.13%) max: 1.43 Points
5 laptops tested
3DMark Vantage: P CPU no PhysX 1280x1024: min: 20151 avg: 20981.3 (56.73%) max: 21482 Points
4 laptops tested
So taking the averages in Cinebench R11.5 multi threaded we see a difference in real world of 6.5%, 7.1% in single threaded, and 5.3% in 3dMark Vantage cpu test
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Like I said before don't worry about the chips they perform similarly in real world usage where you won't be able to tell the differences between the two without using benchmarking tools. Even with benchmarking tools we are talking less than 15% difference and more like 6 to 7% difference.
Other factors of your laptop buying decision should be influencing your final choice.
You have that backwards. The 4700 has higher TDP overhead so it will be able to maintain turbo longer.
Not necessarily while the chips with the i7 4700MQ have a higher tdp maximum and thus can stay within the acceptable tdp in turbo mode for longer, the chips with the i7 4700MQ are also more likely to be a slightly higher voltage. Intel will put these chips at a slightly higher voltage due to binning and wanting to make sure these chips hit their guaranteed values. Thus it can work both ways.
Don't get me wrong, I believe the i7 4700MQ will perform better than an I7 4702MQ
on average, but there are a lot of factors in play and it depends on what chip you get from intel and what does the laptop designer choses with cooling.