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Is it sensible to use Excel's Solver to optimize independent variables in a linear regression model?
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Is It Sensible To Use Excel's Solver To Optimize Independent Variables In A Linear Regression Model? | Rate this: (3/5 from 1 vote) |
 | Hi to all, I would like to know if it is sound / sensible to use Excel’s Solver to optimize the variables of a multiple regression model. If anyone can advise me, I would appreciate it. For example, in a multiple regression model such as: E(y) = 110 + .25 variable1 + .111 variable2 + .153 variable3 Is it possible to use Excel’s Solver to maximize the advertisements’ impact on the dependent variable? I have developed a time-series linear regression model using historical data from an advertising campaign that involved a number of ad vehicles. Now that I have developed a regression model from the data, I would like to use Solver to identify the best configuration of spending and scheduling to assign to each ad vehicle in order to achieve the highest value for the dependent variable (within the range of the data tested for the dependent variable). Thank you. | |
| Posted by mantis on | ||
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 | Rate this: (3/5 from 1 vote) You should each independent variable input into a dedicated cell and then create the formula for the dependent variable in another cell. Solver can then be used to maximise the dependent variable cell by changing the independent variable cells within specified constraints. |
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| Posted by Excel Helper on |
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