From the course: Excel 2016: Charts in Depth

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Analyzing existing and future data with trendlines

Analyzing existing and future data with trendlines

From the course: Excel 2016: Charts in Depth

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Analyzing existing and future data with trendlines

- We are seeing a line chart depicting Home Sales for a two and a half-year period, January, 2014 to June, 2016. The date is over in columns A and B. Now we can begin to analyze this data and possibly approach it and make some predictions about where we are headed in the future. We can do this by adding what's called a Trendline. Trend Line refers to actually a number of different choices. If we right click a line, and by the way, we can also do this column charts and bar charts, I'm going to right click the line, and add a Trendline. And immediately, in the background, we see a a linear trendline and off to the right, a dialog box Format Trendline. Now, if you know something about Regression Analysis, you have some feel or some knowledge of what these terms, Exponential, Linear, Logarithmic, Polynomial, Power, you might not have used them all but you have some familiarity with them. This is a statistical way to measure data. Now, without going into a big explanation of it, and I'm…

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