Great, glad you like them!

Hi Jeevan, thanks for the feedback! These full length videos were created for my students and cover all the content in each chapter of the textbook. I posted them online to see if other individuals would find them useful (which they have). I am currently creating new content specifically for KZfaq that will be more focused on specific topics and each video will be much shorter. You can expect to see those videos roll out the next few months. Thanks again for the feedback! I hope you subscribe to my channel and enjoy the new content when it is posted.

Hi ClashThenDash (love the name), that's a good question! The R and the R^2 measure different things... The R measures the strength of the linear relationship between the independent & dependent variables. The R^2 is the percentage of the variation from the dependent variable to the independent variable. When you build the model in MS Excel, it will calculate the R^2. So you then have to take the square root of that to find the R (the correlation). I realize that seems backwards but it works out when you follow the steps & build a model in MS Excel. You have the R^2 and not the R.

Hello Vivek, with a linear regression forecast you must have historical X and Y data to calculate the forecast for future periods. Additionally, the correlation analysis will measure the strength of that correlation between the X and Y data, but you must have both variables to do the analysis.

@@OperationsAndSupplyChain thanks for clarification. i have historical data for both x and y for last 2 years, say 2022 and 2023 ( so both payroll and sales from your example) and i am also provided by the future data for variable x( payroll) for next 2 years ( 2024, 2025) . how can i forecast the vlaues for y for 2024,2025 using this data? thats the solution i am looking for

Hi Vivek, you'd need to use a different formula if you only have the Payroll data. Here is the video that covers the Least Squares trend projection: kzfaq.info/get/bejne/ZqtlisaXsp2ugqs.html

@@OperationsAndSupplyChain thankyou sir. so, it means from the line equation i can find out any value of y?

Yes, that is correct. But - it will get less accurate the further out you try to forecast.

Hello Vivek, thanks for your question. In this video I explain how to calculate the forecast starting at 3:07. Then, later in the video (around 13 minutes) I perform the Nodel Construction example in MS Excel. Since I had gone through the four steps earlier in the presentation I did not go through all of them again.