Forecast, Logest or Linest?

Q706003

New Member
Joined
Aug 6, 2010
Messages
1
Hi Guys

I am trying to set up a spreadsheet using either Forecast, Logest or Linest to estimate future kit receipt numbers using past data of units sent and units returned and i am having problems, first of all is this possible using the data below with any of these functions in Excel? And secondly, any tips to help me along?

Month .........................Kits Shipped ..................Kits Returned
JAN.............................78000............................31252
FEB ............................100124 ..........................32657
MAR ...........................103012 ...........................41135
APR ............................90560 .............................37122
MAY ...........................92104..............................37498
JUN ............................89281 ..............................40357
JUL..............................86234...............................?????
 
Last edited:

Some videos you may like

Excel Facts

Easy bullets in Excel
If you have a numeric keypad, press Alt+7 on numeric keypad to type a bullet in Excel.

brettdj

Active Member
Joined
Feb 5, 2003
Messages
426
You would be best off graphing the relationship as a X Y scatter plot (shipped v returned), and inserting trendlines to measure the strength of any relationship. Also do youe expect the season to impact shipping, or the returned/shipping ratio

You could chart

- linear
- log
- ln
- quadtratic etc

If you were to use a function use LINEST, as you can use it to fit polynomials, log relationships, ln relationships etc. It can also return the regression fitting stats

But charts are easier for the human eye to understand

Cheers

Dave
 

tusharm

MrExcel MVP
Joined
May 28, 2002
Messages
11,007
The type of trendline you use depends on an understanding of the underlying issues and cannot be dictated from "outside." In your case you probably also have to account for seasonality.

For more information on trendlines see
Regression Analysis
http://www.tushar-mehta.com/publish_train/data_analysis/16.htm

Hi Guys

I am trying to set up a spreadsheet using either Forecast, Logest or Linest to estimate future kit receipt numbers using past data of units sent and units returned and i am having problems, first of all is this possible using the data below with any of these functions in Excel? And secondly, any tips to help me along?

Month .........................Kits Shipped ..................Kits Returned
JAN.............................78000............................31252
FEB ............................100124 ..........................32657
MAR ...........................103012 ...........................41135
APR ............................90560 .............................37122
MAY ...........................92104..............................37498
JUN ............................89281 ..............................40357
JUL..............................86234...............................?????
 

Subscribe on YouTube

Watch MrExcel Video

Forum statistics

Threads
1,105,975
Messages
5,508,517
Members
408,688
Latest member
Bhojraj

This Week's Hot Topics

  • Turn fraction around
    Hello I need to turn a fraction around, for example I have 1/3 but I need to present as 3/1
  • TIme Clock record reformatting to ???
    Hello All, I'd like some help formatting this (Tbl-A)(Loaded via Power Query) [ATTACH type="full" width="511px" alt="PQdata.png"]22252[/ATTACH]...
  • TextBox Match
    hi, I am having a few issues with my code below, what I need it to do is when they enter a value in textbox8 (QTY) either 1,2 or 3 the 3 textboxes...
  • Using Large function based on Multiple Criteria
    Hello, I can't seem to get a Large formula to work based on two criteria's. I can easily get a oldest value based one value, but I'm struggling...
  • Can you check my code please
    Hi, Im going round in circles with a Compil Error End With Without With Here is the code [CODE=rich] Private Sub...
  • Combining 2 pivot tables into 1 chart
    Hello everyone, My question sounds simple but I do not know the answer. I have 2 pivot tables and 2 charts that go with this. However I want to...
Top