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

This preview shows page 1 - 2 out of 5 pages.

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
Image of page 1

Subscribe to view the full document.

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
Image of page 2
You've reached the end of this preview.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern