This week and next, your studies focus on using statistical regression to forecast future demand. Begin your studies in the Content section of the classroom by completing the reading and viewing assignments. As was the case last week, do not try to complete this homework assignment without understanding the concepts involved with forecasting using statistical regression. Once you have a good understanding of how regression works, download the attached Excel Template onto your computer. You will use this template for your assignment during the next two weeks (Weeks 6 and 7). Begin by opening the Excel File and read through the Scenario at the top of the page, then notice there are tabs at the bottom of the workbook that constitute your homework assignment. There are three different Task-groups for you to work on over the next two weeks. Next, take a look at each section in the Excel book and scroll down through the spreadsheet, you will notice in the far left column, there are several tasks for you to complete on each tab. Pace yourself and get some of the assignment done in the first week; it can be dangerous to leave all of this homework for week 7.
Next, hyperlinked directly below are several YouTube videos that will aid you in completing the assigned tasks. They are all short (under 10 minutes), so watch them all in succession before you start your homework. Then, as you start each Tab in the Excel Workbook, keep a copy of the appropriate video handy, each assignment almost exactly mirrors these videos; albeit with different scenarios.
(2) Using Excel to calculate a correlation coefficient || interpret relationship between variables – YouTube
(2) (Linear) Regression Equation on Excel 2016 – YouTube
(2) How to do Multiple Regression in Excel 2016 for Windows (Job Performance Example) – YouTube
(2) Creating a dummy variable for regression – YouTube
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