Question 1. We use Microsoft EXCEL to quickly graph and compute the essential output of these techniques. What are the advantages and disadvantages of using EXCEL for regression and correlation statistical techniques? Or alternatively, is there any advice you would like to give the newbie in using this EXCEL tool?
Question 2. Linear Regression and Correlation are two analytical techniques used to forecast the value of the dependent variable based on the independent variable and test the strength of the relationship between the two variables. With Microsoft EXCEL we can analyze a wide variety of large data sets. Discuss some real data from business, sports or personal finance that could be used in this analytical technique. Identify the independent and dependent variables in the data set. What relationship do you expect to be found between the two variables?