This article will show you how to do an exponential regression in Excel. Exponential regression is a statistical method that can be used to fit an exponential function to a set of data points.
How to do an exponential regression in Excel
There are two ways to do an exponential regression in Excel:
Using the Analysis ToolPak:
- Click the Data tab.
- In the Analysis group, click Data Analysis.
- In the Data Analysis dialog box, select Exponential and click OK.
- In the Exponential Regression dialog box, specify the range of the data points in the Y Range box and the range of the independent variable (x) in the X Range box.
- Click OK.
Using the GROWTH function:
Select the cell where you want to put the regression equation.
Enter the following formula
=GROWTH(known_y_values, known_x_values, new_x_values)
- known_y_values is the range of the dependent variable (y) values.
- known_x_values is the range of the independent variable (x) values.
- new_x_values is the range of the new x values that you want to predict the y values for.
The regression equation will be displayed in the cell.
You can use this equation to predict future values by plugging in the new x values.
By following the steps in this article, you can learn how to do an exponential regression in Excel and use it to predict future values for your business.