I'm trying to create a model that predicts how well a sports team will perform. I have 3 factors that I use in the model - Skill rating of entire team, skill rating of key players, and overall defensive rating. I want to be able to figure out the best weights to apply to each factor such that the combined rating of all 3 factors is a close approximation of past results. For instance, the team with the highest rating should in theory have the highest winning percentage. Obviously I don't think it will work out perfectly, but I want to find the weights that give the closest approximation.
I think I need to use Solver for this but i'm not sure? Basically I want to be able to have Excel change the 3 weight variables to that it finds the closest correlation between combined weighted ratings of my 3 factors and winning percentage.
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