Excel Business Analytics Free Course - Forecasting, Linear Programming, Simulation & more. - Basic Excel Business Analytics #45: Covariance and Correlation to Measure Linear Relationship

Download files: https://people.highline.edu/mgirvin/AllClasses/348/348/AllFilesBI348Analytics.htm Learn: 1) (00:16) Intro to Covariance and Coefficient of Correlation 2) (00:55) Plot Xbar Line and Yabr Line to understand the math behind Covariance and Correlation 3) (07:00) Calculations for Covariance (measure for linear relationship between two variables) and Correlation (Strength and Direction of linear relationship between two variables). Example of Weekly Ad Expenses (X) against Weekly Sales (Y) and a Positive Relationship. See the functions COVARIANCE.S and PEARSON and CORREL. 4) (11:28) Visual for what Correlation Means 5) (13:34) Second example with Bike Weight and Price with a Negative Relationship. Download Excel File Not: After clicking on link, Use Ctrl + F (Find) and search for “Highline BI 348 Class” or for the file name as seen at the beginning of the video.