I will show you how to do an exponential regression in Excel. Exponential regression is a useful statistical method to fit an exponential function to a set of data points.
Excel offers two main ways to conduct this analysis:
Using the Analysis ToolPak
- Access Data Analysis: Click on the Data tab. In the Analysis group, select Data Analysis.
- Select Exponential Regression: In the Data Analysis dialog box, choose Exponential.
- Input Data Ranges: In the Exponential Regression dialog box, input the range of your data points in the Y Range box (dependent variable) and the range of the independent variable (x) in the X Range box.
- Execute Analysis: Click OK to perform the regression.
Using the GROWTH Function
Click on the cell where you wish to display the regression equation.
Enter GROWTH Formula: Type in the formula:
=GROWTH(known_y_values, known_x_values, new_x_values)
Here, known_y_values is the range of the dependent variable (y), known_x_values is the range of the independent variable (x), and new_x_values is the range for which you want to predict y values.
Press Enter, and the equation will be displayed in the cell.
Predicting Future Values
Once you have your regression equation, you can predict future values by substituting new x values into the equation.
