Forecast Excel worksheet function
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 Excel
function to predict future sales, inventory requirements,
consumer trends or weight loss!.
X is the data point for which you want to predict a value.
Known_y's is the dependent array or range of data.
Known_x's is the independent array or range of data.
The equation for FORECAST is a+bx, where:
and where x and y are the sample means AVERAGE(known_x's) and AVERAGE(known y's).
The Excel training video demonstrates the concept.