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#1
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forecasting
An employee has asked me a question regarding predictions, which has led me
to forecasting. Lets say for example, he monitored for 3 months the number of hours an engine ran for during the day. But he also wants a model where it will predicts lets say for the next 3 months based on the results he has previously. Would this be done using the foremat function? And which values would be x and which values would be y? |
#2
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forecasting
Would this be done using the foremat function? And which values would be x
and which values would be y? By Foremat I meant Forecast :) |
#3
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forecasting
See here for a discussion of XL's statistical tools:
http://www.utexas.edu/its/training/handouts/excelstat/ (Some of these functions are irrelevant for forecasting, but some are relevant.) Dave -- Brevity is the soul of wit. "Harry" wrote: An employee has asked me a question regarding predictions, which has led me to forecasting. Lets say for example, he monitored for 3 months the number of hours an engine ran for during the day. But he also wants a model where it will predicts lets say for the next 3 months based on the results he has previously. Would this be done using the foremat function? And which values would be x and which values would be y? |
#4
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forecasting
It really depends on what you are looking for, but regression functions are
built in. For a quick look you can put the data in as a chart and add a trend line to it automatically. -- -John Northwest11 Please rate when your question is answered to help us and others know what is helpful. "Harry" wrote: An employee has asked me a question regarding predictions, which has led me to forecasting. Lets say for example, he monitored for 3 months the number of hours an engine ran for during the day. But he also wants a model where it will predicts lets say for the next 3 months based on the results he has previously. Would this be done using the foremat function? And which values would be x and which values would be y? |
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