Regression

[Abigail]

Would someone be able to provide the steps to use the Regression formula and
some understanding of the information it provides?I'm interested in using it
as a forecasting tool.

Thanks in advance.

 

[Bruce Sinclair]

Would someone be able to provide the steps to use the Regression formula and
some understanding of the information it provides?I'm interested in using it
as a forecasting tool.

Remember that using past data to forecast the future is usually no better
than guessing. You would be assuming that 'things stayed the same' for a
start (often/usually not the case). Once you try to extrapolate past your
data, you are in unknown territory.

 

[Mike Middleton]

Abigail -

(1) If you do a search for "excel regression" (without the quotes) using
bing, google, or other search engine, you'll get many items.

(2) Conrad Carlberg's book, Excel Sales Forecasting for Dummies, has Chapter
11, Basing Forecasts on Regression.

(3) My older book, Data Analysis Using Microsoft Excel, has four chapters on
regression.

- Mike
http://www.MikeMiddleton.com

 

[Paul Hyett]

Remember that using past data to forecast the future is usually no better
than guessing.

Surely that is what forecasting *is*?

 

[Bruce Sinclair]

Surely that is what forecasting *is*?

LOL ... excellent point.

I guess my real point was that some people actually *believe* the resulting
guesses and treat them as "true" or "accurate" ... and that this was not,
generally a good idea.