Excel SLOPE Function and Scatter Plot for a Pricing Formula

/in /by

This video takes us back to my very first paid project in Excel. A photographer had a problem calculating the price of a finished and framed photo. The main part of the problem was the mystery around the price of the frame.

We gathered receipts and I figured, “what the heck, let’s plot the known data on a grid.”
The Excel scatter plot showed a straight line. That made it easy to figure out the frame shop’s pricing formula.

The equation of a straight line: y=mx+b

 
y = final price
m = slope * length * width + b
EASY!!!

For an intro to Get & Transform (Power Query) try my Lynda/LinkedIn course:
https://www.linkedin.com/learning/instructors/oz-du-soleil?trk=insiders_28299411_learning
Website: https://ozdusoleil.com

My book: Guerrilla Data Analysis 2nd Edition

My old blog: http://datascopic.net/blog-2-2