Regression Analysis for Annual Forecasting in EXCEL

Guided study in which an airline company is reviewing historical data within the industry to forecast their own annual costs for the future.

OBJECTIVE: Forecast annual costs with historical data of specific variables.

Process

1. Check for correlation between the variables and annual costs to see where the best linear relationship exists
2. Build simple linear regression model for variable with best correlation to annual cost
3. Build multiple linear regression model using all the variables
4. Compare performance of the models
5. Select best model for Forecast

You can view the analysis with this link: https://1drv.ms/x/s!AjLEpw37FeB1ga4-hqZd7t4TyI7vwg?e=em6OEQ

*This is an Excel 365 file, so if you do not use that version, functionality and access may be limited