Regression analysis in excel is used for analyzing large amount of data and also for making forecasts and predictions. Follow the steps to do excel regression.
Step 1: Make sure that the regression analysis is supported on your excel
- Click on the Office button at the top left corner in excel.
- Click on excel options , click on Add-Ins on the left side of the page
- Find Analysis Toolpak and if it is in active state, then you’re set.
- If it is set to Inactive, then select Analysis Toolpak and hit GO. Wait for a while and allow it to install.
Step 2: Run Regression Analysis In Excel
- Enter the data into excel sheet.
- Data should have at least two columns that will represent an input range X and input range Y. Input variable X represents independent variable and input Y represent dependent variable.
Step 3: Select DATA from the toolbar
- Then select Data Analysis and choose Regression from the list of tools.
- If you excel displays traditional toolbar go to Tools > Data Analysis and choose Regression from the list of tools.
- If your excel displays the ribbon then, go to data and find data analysis and choose Regression from the list of tools.
Step 4: Now define your Input Y range
- Now the regression Analysis box is displayed, Click inside the Input Y range box. Select all the number you want to analyze. (Click and Drag cursor in the input y range field). The formula will be displayed in the input Y Range spot.
Step 5: Repeat step 4 for Input X Range
Step 6: Modify setting if desired
Choose whether or not to display labels, residual plots, residuals etc ,by checking the desired boxes.
Step 7: Designate where to display output
You can select either particular output range or send the data to a new workbook or worksheet.
Step 8: Click OK
The regression summary output will appear where designated.