Results obtained in Excel 2010 (using Data Analysis Add-in) for RESIDUAL OUTPUT: I present an example for making the explanation simpler:Дў.

The bug in the SResidual calculation is still unfixed in Real Statistics 2.17. I hope this isnвЂ™t too confusing, please let me know otherwise. Knowing that this price is highly correlated to a different price (r = 0.98 and r-squared = 95%), letвЂ™s call it вЂњPrice BвЂќ, and that Price B does have available historical data going back multiple years, hereвЂ™s what IвЂ™ve done: calculated in Excel, using the equation y=m*x+a (where y = price A and x = price B) and parameters calculated in Excel (вЂњmвЂќ and вЂњaвЂќ), what the prices would had been at point A, letвЂ™s say for the last 12 months.Д®ssentially, I would appreciate if you could tell me whether or not this is valid approach and also what would I should be doing next to estimate the prices for the next 12 months. The issue IвЂ™m having is that the price IвЂ™m trying to estimate, lets call it вЂњPrice AвЂќ, is relatively new, with only 6 months of hourly historical prices available. IвЂ™m trying to roughly estimate/predict what the hourly energy prices ($/MWh), at a certain grid point, will be going forward, out 12 months. IвЂ™m relatively new to regressions and IвЂ™m hoping you can give me your thoughts on the following: Thanks for all the interesting information you have available here.

Xlstat regression