Forecasting in Excel using a Log function

aha_cupcake

New Member
Joined
Oct 3, 2015
Messages
2
Hi guys!!
I need to forecast in Excel using a Logarithmic function for the following data:

YearYear NumberProfit
2012024,992
2013141,521
2014261,105
2015382,340

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</tbody>

I need to find the forecasted values for 2016 and 2017 as well as graph to the log function. But I don't know how to do the equation. Can someone help me?
 

JoeMo

MrExcel MVP
Joined
May 26, 2009
Messages
16,691
Hi guys!!
I need to forecast in Excel using a Logarithmic function for the following data:

YearYear NumberProfit
2012024,992
2013141,521
2014261,105
2015382,340

<tbody>
</tbody>

I need to find the forecasted values for 2016 and 2017 as well as graph to the log function. But I don't know how to do the equation. Can someone help me?
Plotting Profit vs Year Number produces a straight line conforming to the equation: Profit = 19163*YrNo + 23745 with an R-squared fitting factor of 0.9969.

Why do you need a log function to forecast a nearly perfect straight line fit?
 

aha_cupcake

New Member
Joined
Oct 3, 2015
Messages
2
Plotting Profit vs Year Number produces a straight line conforming to the equation: Profit = 19163*YrNo + 23745 with an R-squared fitting factor of 0.9969.

Why do you need a log function to forecast a nearly perfect straight line fit?
For our assignment they asked us to forecast using three different estimates - a best case scenario, worst case scenario and best estimate. So while it does appear there is a straight line I still need to consider other options.
 

JoeMo

MrExcel MVP
Joined
May 26, 2009
Messages
16,691
For our assignment they asked us to forecast using three different estimates - a best case scenario, worst case scenario and best estimate. So while it does appear there is a straight line I still need to consider other options.
Good luck with your assignment!
 

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