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Regression Analysis Tools
- Thread starter Captrick
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George Hatch
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified General Appraiser
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- California
Those outliers can really mess you up if using the method I outlined above. If you have sufficient data to do so sometimes the equation works better using the 2nd highest - the 2nd lowest (basically skipping the extremes at either end). The equation for that is a little different:
Where the range of cells you're working with is arrayed in a column from A1 to A10.....
=large(A1:A10, 2) [the "2" is a reference to the 2nd largest number in the range - you could use "3" or "4" or any other number if appropriate]
=small(A1:A10, 2) [2nd smallest number in the range]
Where the range of cells you're working with is arrayed in a column from A1 to A10.....
=large(A1:A10, 2) [the "2" is a reference to the 2nd largest number in the range - you could use "3" or "4" or any other number if appropriate]
=small(A1:A10, 2) [2nd smallest number in the range]
George Hatch
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified General Appraiser
- State
- California
Gack, I'll probably end up spending more time to explain it than if I just wrote the worksheet up. I don't have time to do it today but I might be able to take a swing at it next week. I hate to see appraisers get charged for little apps like this.
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