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Linear Regression Modeling in Excel

Regression modeling is fundamentally founded in predicting an outcome based on one or more predictors given a linear relationship between the variables. Wikipedia states it as

…linear regression is a linear approach to modelling the relationship between a scalar response and one or more explanatory variables.

There are some assumptions involved in linear regression, which I’m going to sidestep (see this link for more information) in order to spend more time on something that is unexpectedly (for me) both interesting and useful — creating a linear regression model using Microsoft Excel. Now, if you’re the type that prefers to see such explanations versus reading them, check this out.

Love it or hate it, Microsoft Excel continues to be a “go to” tool for many people. (No commentary other than I started my professional programming career in 1993 with Excel 5.0 and Visual Basic for Applications.) As such, it’s almost a de-facto translation layer between things people understand (Excel) and things they don’t (e.g., linear regression…