RiU iElRegression Using ExcelCarry out the following stepsCarry out the following steps.1.Put the Cod data in an Excel spreadsheet. Put Quantity in column A and Price inPut Quantity in column A and Price in Column B.2Select the two columns of data2.Select the two columns of data.3.Click on <Insert>, <Scatter>, and select the first type of scatter plot. You should see afirst type of scatter plot. You should see a scatter plot like Figure 3.3.29
RiU iElRegression Using Excel4 Click on Layout then Trendline and select4. Click on Layout, then Trendline and select Linear Trendline. The estimated demand curve will appear.5. Right Click on the line and then Format Trendline. Select Display Equation, and Display R-squared.6. Click on and then delete the legend that appears at the right. 7. Excel uses Ordinary Least Squares RihiliRegression to get this line.30
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