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FORECAST function in simple terms, plz...
I need help understanding the FORECAST function in simple terms (if
possible). Do I have this straight? Let's say I have 9 periods of history, and I want to forecast what will happen in the 10th. I have the periods listed as numbers (1,2,3...) in A1:A9, with period 10 in A10. Then I have the historical data for each period in B1:B9. I put the following in cell B10: =FORECAST(A10,B1:B9,A1:A9) Have I used this function correctly to predict a forecast of what will happen in period 10? Does it extrapolate between periods if I have some missing? For instance, if I'm missing period 5, will it still calculate 10 based on an estimate of what 5 "should be"? Thanks in advance. |
#2
Posted to microsoft.public.excel.worksheet.functions
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FORECAST function in simple terms, plz...
Ray Pendergast -
The FORECAST worksheet function assumes a linear relationship. Before using the FORECAST function, you should first use an XY (Scatter) chart to plot the data and verify that a linear relationship is appropriate. If you do plot the data, you can obtain the same results using the Add Trendline feature. Assuming a linear relationship is appropriate, the answer to each of your three questions is "yes." The "should be" will be based on an average linear relationship based on the other values. - Mike http://www.mikemiddleton.com "Ray Pendergast" wrote in message ... I need help understanding the FORECAST function in simple terms (if possible). Do I have this straight? Let's say I have 9 periods of history, and I want to forecast what will happen in the 10th. I have the periods listed as numbers (1,2,3...) in A1:A9, with period 10 in A10. Then I have the historical data for each period in B1:B9. I put the following in cell B10: =FORECAST(A10,B1:B9,A1:A9) Have I used this function correctly to predict a forecast of what will happen in period 10? Does it extrapolate between periods if I have some missing? For instance, if I'm missing period 5, will it still calculate 10 based on an estimate of what 5 "should be"? Thanks in advance. |
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