How do I estimate demand using MULTIPE REGRESSION in Microsoft Excel?

Question

I've already added the analysis tools. I've done a Regression for two variables (one independent and one dependent). My textbook is worthless. I have to come up with the equation to the Demand curve for soda using multiple regression analysis. My data set has 5 columns. The first is a list of the 48 contiguous states, the second is the DEPENDENT VARIABLE (sales data for each state), the next three are the INDEPENDENT VARIABLES (various other data: Mean Income, Mean Price, Mean Temperature.). There are other parts to the problem that I'm not worried about like interpreting the coefficients, and simple regression. I NEED TO KNOW HOW TO DO THE MULTIPLE REGRESSION AND THEN PUT THE DATA INTO AN EQUATION. I'm offering $10 to the person that can lead me to the correct answer for this part. I will Paypal $20 to that person if I get the rest of the problem correct. Email me for a copy of the data set if you need it: [e-mail] .

Answer 1

I don't want your money

Bring up the Data Analysis tool and pick regression from the menu.

Click the fields that says Input Y Range. Then click the top cell of the Dependent Variable. Highlight the entire column. The field should say something like:

$B$2:$B$48

Hit the Tab key -- this should bring you to the field marked Input X Range. Now click on the first cell of the first column of your independent variables. Highlight the entire three columns. You should now have something like the following in the field:

$C$2:$E$48

If the labels are highlighted too, click on the Labels check box, If not, leave it alone. Hit OK.

Your regression results should show up in a new sheet.

Good luck.