Regression Analysis in Excel
In this chapter, we will explore the basics of performing linear regression analysis using Microsoft Excel. Linear regression is a fundamental statistical method that allows us to understand the relationship between two or more variables.
By the end of this chapter, you'll learn how to use Excel to model and predict outcomes based on historical data, an essential skill in many fields such as economics, business, and science.
Task
In this practical exercise, you will apply the linear regression techniques learned in this chapter to a real dataset.
Note
Use the dataset from the previous chapter.
The goal is to predict Monthly Sales based on the Advertising Budget and Monthly Visitors.
1. What is the R-squared value of your regression model?
2. What is the formula to estimate Monthly Sales (MS
) using Monthly Visitors (MV
) and Advertising Budget (AB
)?
3. What would be the estimated monthly sales for an advertising budget of 5000 and 300 monthly visitors?
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