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Welcome to Calculating the line of best fit for data (linear regression) Claude Zanardo.
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Definition Uses Process for calculating using EXCEL Linear regression
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Definition Linear regression shows the relationship between two variables, an explanatory variable (X) and a dependent variable (Y). The formula is usually shown as: Y = aX + b
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Forecasting Uses
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We are given the following set of figures for sport car sales and are asked to calculate the least square (regression) equation for the data Example
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Scatter Diagram
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Trend Line
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Process – Step 1
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. Process – Step 2
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, Process – Step 3
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. Process – Step 4 Process 3Process 3
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. Process – Step 5
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. Process – Step 6
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. Process – Step 7
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Equation is: Y=326.76X + 24282 Forecast for July is: 326.76 x 16 + 24282 = 29,510 Forecast for August is 326.76 x 17 + 24282 = ? Forecast for September is: 326.76 x 18 + 24282 = ? Process – Step 8
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Thank you
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claude.zanardo @tafensw.edu.au Contact Details
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