Discuss
In what ways can the Excel forecast tool help determine future base values from knowing the relationship between past values. The table below is an example. If you want to on your own, use the Excel forecast to predict future periods, using the same technique as the example at the URL.
Below you have been given some data over time; conduct a simple regression analysis of the data over time. What is the trend or message that this data is telling you? What might be missing from this data?
Discuss the function of the following statistical terms. Why are they important?
Line of best fit
R2 value
Slope
The following can be used to practice the Excel Regression if you like.
Pool Base Our review Determined
2011 3,000,000 1,500,000
2012 3,200,000 2,000,000
2013 3,300,000 2,200,000
2014 3,600,000 2,500,000
2015 3,400,000 2,300,000
Proposed 3,000,000 2,400,000 2,600,000
Use the Excel Forecasting tools to create projected revenue and profit, based on historical data.
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