What-If is a function built in to Microsoft Excel to compute answers to “what if” questions, exactly as the name suggests! A business would be faced many such “what if” questions – “What if we need to earn a profit of Rs. 10000,...
Previously, we have seen situations where an outcome (the dependent variable) is based on a single input variable (independent variable). Sadly, real life is rarely as simple. Most outcomes in real situations are affected by multiple input variables. To...
We have talked about regression models in the context of linear regression models in the previous post. A nonlinear regression model is one that describes a nonlinear relationship between the dependent and the independent variables. Naturally, the equation of the...
What is regression? In the dictionary, the word regression basically means ‘to go back’. In terms of statistics too, the meaning is not too different – it means ‘to go back to the past data to explain the process that generates the data’....
Calculating Range in Excel Excel does not offer a function to compute range. However, we can easily compute it by subtracting the minimum value from the maximum value. The formula would be =MAX()-MIN() where the dataset would be the referenced in both the parentheses....