From the course: Excel: Sales Forecasting
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Confidence intervals around the result
From the course: Excel: Sales Forecasting
Confidence intervals around the result
- [Instructor] After we've run a regression in Excel, we are by no means done, when it comes to constructing our sales forecast. In fact, the regression is oftentimes just the starting point for the really interesting stuff. Let me show you what I'm talking about. I'm in the 03_06_Begin Excel file. Now, I've taken the liberty of going through, and making our regression a little bit neater, right? To begin with, I've gone through and looked at the data, looked to try to find the variables that have the best predictive power for car sales. And this isn't uncommon. Oftentimes, the variables or the variable forms that we pick for our first regression, aren't necessarily going to give us the best possible predictive power. Compared to if we spend a little time working on it, set differently, right? The first time you do something, you're not always going to be great at it. Oftentimes practice makes perfect, right? Same thing…
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