# 344.pdf - Topic 3 ANOVA Regression and Forecasting Module...

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Topic 3: ANOVA, Regression, and Forecasting Module 3.4: Forecasting Regression as Forecasting Regression analysis is often used as a forecasting technique simply because regression analysis is simple and easy to understand. The text, on pages 241-246, does a very nice job in treating this topic. The important point is the use of the graphing techniques in Excel, including the Add Trendline tool. It is important to recall that Excel can run regressions for non-linear equations. The graphing tool quickly reveals the likely functional form of the system that generated the data. The Chart/Add Trendline and the associated Display Equation on chart and Display R-squared value via Chart/Add Trendline/Options make fairly sophisticated regression analyses reasonably easy. For example, suppose we have the following data: X y 0.0 6.2241376 0.1 4.6233325 0.2 4.0614103 0.3 2.6355774 0.4 2.0785723 0.5 1.2958514 0.6 1.4540597 0.7 0.8537783 0.8 1.1820836 0.9 0.8959717 1.0 1.8353497 1.1 1.4069084 1.2 2.4009317 1.3 1.8758499 1.4 2.3555998 1.5 3.1028067 1.6 3.0421913 1.7 2.5336756 1.8 3.0533862 1.9 2.3193321 2.0 2.5779465 2.1 2.0741093 2.2 1.4211622

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The Excel graph for this data is as follows: y 0 1 2 3 4 5 6 7 0.0 0.5 1.0 1.5 2.0 2.5 y
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• Spring '17
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