Excel Regression Add-in.
(The attached PDF file has better formatting.)
Jacob: Do we solve for ordinary least squares estimators by the equations in the textbook?
Rachel: Excel has a regression add-in.
If we use a hundred simulations to test the accuracy of the estimators, we code a VBA macro or an Excel table with the formulas from the textbook or the built-in functions.
For this student project, it is easier to use the regression add-in.
Jacob: Where is the Excel regression add-in?
Rachel: In versions of Excel before 2007: Click on the tools menu from the menu bar. From the menu, choose data analysis.
Take heed: You may have to include the data analysis add-in to your version of Excel. From data analysis, choose regression.
Take heed: The locations of built-in functions change in Excel 2007. The data analysis add-in is at the far right of the data ribbon.
Jacob: How do we include the data analysis add-in?
Rachel: Check to see if the add-in is already installed. Some actuarial departments have the add-in installed.
If the add-in is not installed, choose add-ins… from the tools menu. From the sub-menu that appears, choose analysis toolpak. To access the regression add-in from a VBA macro, include also the analysis toolpak vba.
Your version of Excel may differ. If you can’t find the regression built-in function, post a question on the discussion forum, listing your version of Excel and of windows.