Simple Linear regression analysis using Microsoft Excel's data analysis toolpak and ANOVA Concepts

Regression analysis is a set of statistical methods used for the estimation of relationships between a dependent variable and independent variables. We can use it to assess the strength of the relationship between variables and for modeling the future relationship between them. Simple linear regression is a method we can use to understand the relationship between an explanatory variable, x, and a response variable, y. Linear Regression Analysis consists of more than just fitting a linear line through a cloud of data points. It consists of 3 stages – (1) analyzing the correlation and directionality of the data, (2) estimating the model, i.e., fitting the line, and (3) evaluating the validity and usefulness of the model. In this video you will learn how to use Simple Linear regression analysis using Microsoft Excel's data analysis tool Pak and ANOVA Concepts