Ohio Worksheet - Trend Analysis
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How to fill out Worksheet - Trend Analysis?
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FAQ
There are three types of trend analysis methods geographic, temporal and intuitive.
The idea of a trendline is to reveal a linear relationship between two variables, x and y, in the y = mx + b form. Deriving the line equation that links two variables allows scientists to extrapolate, or predict, how one variable will change given any change in the other.
Here are the steps to follow:Put the X values for which you want predictions in a column of cells, such as B8:B10.Select the cells in which you want the predictions displayed; in this example C8:C10.Enter the following formula: =TREND(C3:C8,B3:B8,B10:B12)Press Ctrl+Shift+Enter to complete the formula.
The FORECAST (or FORECAST. LINEAR) function in Excel predicts a future value along a linear trend. The FORECAST. ETS function in Excel predicts a future value using Exponential Triple Smoothing, which takes into account seasonality.
1 Choose Which Pattern You Want to Identify. The first and most obvious step in trend analysis is to identify which data trend you want to target.2 Choose Time Period.3 Choose Types of Data Needed.4 Gather Data.5 Use Charting Tools to Visualize Data.6 Identify Trends.
Add a trendlineSelect a chart.Select the + to the top right of the chart.Select Trendline. Note: Excel displays the Trendline option only if you select a chart that has more than one data series without selecting a data series.In the Add Trendline dialog box, select any data series options you want, and click OK.
Trend analysis involves the collection of information from multiple time periods and plotting the information on a horizontal line for further review. The intent of this analysis is to spot actionable patterns in the presented information.
Here are the steps to follow:Put the X values for which you want predictions in a column of cells, such as B8:B10.Select the cells in which you want the predictions displayed; in this example C8:C10.Enter the following formula: =TREND(C3:C8,B3:B8,B10:B12)Press Ctrl+Shift+Enter to complete the formula.
The TREND function returns values along a linear trend. It fits a straight line (using the method of least squares) to the array's knowny's and knownx's. TREND returns the y-values along that line for the array of newx's that you specify.
Examples of Trend AnalysisExamining sales patterns to see if sales are declining because of specific customers or products or sales regions; Examining expenses report claims for proof of fraudulent claims. Examining expense line items to find out if there are any unusual expenditures in a reporting period.
