Whenever we want to estimate the relationship between variables then we think of using regression analysis. There are different types of regressions that you can perform. Here we are going to tell you how to use regression analysis in excel to understand which of the independent variable are related to which of the dependent variable.
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You can get a visual regression analysis using the scatter plotting technique. To plot graph, you need to use the regression tool that is provided by the Data Analysis tool. The Data Analysis tab comes using an add-in function.
In the simple regression analysis, you will find a single variable “X” for every dependent variable “Y”.
In the multiple regression analysis, you will find a significant relationship between the sets of variables. Using this you can find the trends among those data sets.
The regression equation is also called a slope formula.
Y=a+bX where Y is said to be a dependent variable, X is the independent variable, a is the intercept of Y-axis and b is the slope of the line.
To perform regression analysis, you need to add data analysis tab. The data analysis tab is added using Add-Ins and Analysis ToolPak list.
This is how you can perform single and multiple regression analysis in excel. Check the process to create a scatterplot. If you have any doubt then you can mention below in the comment box and one of our team members will get back with the answer. You can also check other graphs like Pareto chart, histogram chart, and other charts in our excel tutorial.
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