Release 5.3.1 of the Real Statistics Resource Pack is being issued today.
It contains some bug fixes for the Ridge regression data analysis tool and functions. If you have already upgraded to Rel 5.3 and don’t have any need for Ridge regression, then you don’t need to install this release.
This release is now available for Excel 2011, 2013 and 2016 (Mac and Windows) users. It will shortly be made available to Excel 2007 and 2010 users. The Examples Workbook Part 2 will also shortly be revised to support the changes in this release.
In addition to the bug fixes, the following new functions are available:
RidgeCoeff: outputs the unstandardized Ridge regression coefficients
RidgeLambda: outputs an estimated lambda value based on making sure that the VIF values are below some user-defined threshold
RidgeMSE: outputs the MSE value for a Ridge regression model
RidgePred: outputs the predicted y values corresponding to and array of x data based on a Ridge regression model
In addition to these Ridge regression functions, the release adds the following function:
RegPredCC: outputs the predicted y values for any regression model given the x values and regression coefficients. This is similar to the pre-existing RegPredC function, except that now an array of x values can be specified.
Charles