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Tag: FORECAST function

FORECAST function: Description, Usage, Syntax, Examples and Explanation

What is FORECAST function in Excel? FORECAST function is one of Statistical functions in Microsoft Excel that calculates, or predicts, a future value by using existing values. The predicted value is a y-value for a given x-value. The known values are existing x-values and y-values, and the new value is predicted by using linear regression. You can use this function…

Forecast vs Trend Function in Excel

The FORECAST and TREND function give the exact same result. When you add a trendline to an Excel chart, Excel can display the equation in a chart (see below). You can use this equation to calculate future sales. Explanation: Excel uses the method of least squares to find a line that best fits the points. The R-squared value equals 0.9295, which is a good fit. The closer to…