Creating a Line of Best Fit on Excel | Making a scatter graph and line of best fit in Excel

In this video, you will learn about Creating a Line of Best Fit on Excel and Making a scatter graph and line of best fit in Excel by a Simple Method. A line of best fit is a straight line that minimizes the distance between it and some data. The line of best fit is used to express a relationship in a scatter plot of different data points. It is an output of regression analysis and can be used as a prediction tool for indicators and price movements. I will show you how to Create a Line of Best Fit on Excel and how to conditionally for the line of best fit in scatter plot. Additionally, you will also learn how to add r2 value, intercept and regression equation in microsoft excel graph. I will use imaginary data of concentration and absorbance as an example and will generate line of best fit using this data. I have used excel 365 to generate a standard curve and line of best fit and determine an unknown concentration of compound. You can also use other versions of excel such as excel 2013, excel 2019 and excel 2016.
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