Excel is a great tool for performing multiple regressions when you don't have access to an advanced statistics program. The process is quick and easy to learn.
Steps
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Step 1. Open Microsoft Excel
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Step 2. Check the presence of the "Analysis tools" by clicking on the "Data" tab
If you don't see the option, you will need to activate the add-on, as follows:
- Open the "File" menu (or press Alt + F) and select "Options".
- Click on "Add-ons" on the left.
- Click "Go" next to the "Manage: Add-ons" option at the bottom of the window.
- In the new window, check the box next to "Analysis tools", then click "OK".
- The add-on is now activated.
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Step 3. Enter data or open a document with data
The data must be arranged in immediately adjacent columns and the labels must be in the first few rows of each column.
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Step 4. Select the "Data" tab, then click on "Data Analysis" in the "Analysis" group (usually on the far right of the screen)
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Step 5. Enter the independent data (Y) by placing the cursor in the "Input range Y" field, then highlight the data column
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Step 6. Independent variables are inserted by first placing the cursor in the "Input Range X" field, then highlighting multiple columns (for example $ C $ 1:
$ E $ 53).
- NOTE: Independent variable columns MUST be adjacent to each other for the input to work properly.
- If you use labels (which must be in the first row of each column), click on the box next to "Labels".
- The default confidence level is 95%. If you want to change this value, click on the box next to "Confidence level" and modify the adjacent value.
- Under "Output Options", add a name in the "New Worksheet" field.
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Step 7. Select the desired options in the "Residual" category
Graphical residual outputs are created with the "Residual Paths" and "Lines Fit Paths" options.