Microsoft Excel 2019 Data Analysis and Business Modeling, 6th Edition

Chapter 60 Incorporating qualitative factors into multiple regression

Questions answered in this chapter:

• How can I predict quarterly U.S. auto sales?

• How can I predict U.S. presidential elections?

• Is there an Excel function I can use to easily make forecasts from a multiple-regression equation?

In the first example of multiple regression in Chapter 59, “Introduction to multiple regression,” I forecasted the monthly cost of plant operations by using the number of units of each product manufactured at the plant. Because you can quantify exactly the amount of a product produced at a plant, you can refer to the units produced of Product A, Product B, and Product C as quantitative independent variables. In many situations, however, independent ...