OMIS-Excel Notes-Linda's

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Unformatted text preview: if the home to be insured is close to a fire station? To help make a decision, a study was undertaken wherein a number of fires were investigated. The distance to the nearest fire station (in kilometers) and the percentage of fire damage were recorded. Determine the least squares line. Regression in Excel 1. Go to Data Analysis 2. From the Data Analysis Box Choose Regression 18 Excel Notes Jessica Gahtan OMIS2000 1. Fill the Input Y range and X range 2. Fill the Output range Excel Correlation Output (Correlation Matrix) Data analysis / correlation Highlight both X and Y Columns here 19 Excel Notes Jessica Gahtan OMIS2000 Unemployment Rate Example Open: demographic and economic info.xls This file reports demographic and economic information on 46 countries. Note: where data is missing, an asterisk (*) is entered in the data set Use the appropriate linear regression equation to predict unemployment in the United Arab Emirates. Let the Labour Force variable be an independent variable to predict the Unemployment Rate. Looking Ahead … Sorting Data • Arranging data in a specific sequence enables managers to assess information efficiently and make key decisions. What did we learn? • Formulas 20 Excel Notes Jessica Gahtan OMIS2000 – Mathematical – Conditional – Financial • Data Analysis – Data Analysis Tools – Formulas vs Tools Exploring Excel 2010 • Chapter 2 – Logical, Lookup and Financial Functions • Chapter 7 – Math and Statistical Functions OMIS2000- Week 3: Quantitative Data Analysis Approaches; Data visualization Charts and Graphs • Provide a clear visual representation of data • Can provide insights that can be more difficult to see when looking at data directly • Can effectively summarize large quantities of data Definitions Data Series and Categories A data series: Is a set of values to be charte...
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