Scatter Plot Template in Excel
Drop in the Data and Template Draws a Scatter Plot
Scatter plots are used to evaluate the correlation or cause-effect relationship (if any) between two variables (e.g., speed and gas consumption in a vehicle).
When you think there's a cause-effect link between two indicators (e.g., calories consumed and weight gain) then you can use the scatter plot to prove or disprove it. If the points are tightly clustered along the trend line, then there's probably a strong correlation. If it looks more like a shotgun blast, there is no correlation. To help you even more, QI Macros calculates R2 for you and displays it in the lower right corner of the scatter plot. If R2 is greater than .80 there is a strong correlation.
Example of QI Macros Scatter Plot Template in Excel.
You can switch the order of the X and Y axis and add/remove Confidence Intervals and Prediction Intervals!
In the Scatter template, once you have created your chart, you can switch the X and Y-Axis by inputting "1" or "2" in the "Order" section to the right of your chart. Once you have typed in 1 or 2, press Enter and your Chart will update automatically. You can also show the Confidence Interval (CI) and Prediction Interval (PI) by inputting "True" in the "Show CI/PI" section or hide by inputting "False":
Confidence Intervals: Provide a view into the uncertainty when estimating the mean.
Prediction Intervals: Account for variation in the Y values around the mean.