CONFIDENCE

Formulas / CONFIDENCE
Calculate a range of values to estimate the population mean with a given confidence level.
=CONFIDENCE(alpha, standard_dev, size)
  • alpha - required, a significance level
  • standard_dev - required, the standard deviation of the population
  • size - required, the sample size

Examples

  • =CONFIDENCE(2, 3, 4)

    The CONFIDENCE function can be used to calculate a confidence interval for the population mean of travel to work. For example, this will return a confidence interval for the population mean of travel to work based on a sample size of 2, a confidence level of 3, and a standard deviation of 4.

  • =CONFIDENCE(15, 1, 8)

    The CONFIDENCE function can be used to calculate a confidence interval for the population mean of any parameter. For example, this will return a confidence interval for the population mean of any parameter based on a sample size of 15, a confidence level of 1, and a standard deviation of 8.

  • =CONFIDENCE(12, 2, 9)

    The CONFIDENCE function can be used to calculate a confidence interval for the population mean of any two parameters. For example, this example will return a confidence interval for the population mean of any two parameters based on a sample size of 12, a confidence level of 2, and a standard deviation of 9.

  • =CONFIDENCE(42, 3, 7)

    The CONFIDENCE function can be used to calculate a confidence interval for the population mean of any three parameters. This formula will return a confidence interval for the population mean of any three parameters based on a sample size of 42, a confidence level of 3, and a standard deviation of 7.

Summary

The CONFIDENCE function is used to calculate a confidence interval for a population mean, which is the sample mean plus one standard deviation. It returns a #VALUE! error if any of the arguments are not numerical, and calculates the area under the standard normal curve to determine the confidence interval for a data set.

  • The CONFIDENCE function has been improved and should be used instead of the previous version for increased accuracy.


Frequently Asked Questions

What is the CONFIDENCE function?
The CONFIDENCE function calculates a confidence interval for a population mean. A confidence interval is a range of values that represent a degree of certainty that a population parameter lies between two limits.
What does the CONFIDENCE function do?
The CONFIDENCE function creates a confidence interval for a population mean. The confidence interval is a range of values that represent a degree of certainty that a population parameter lies between two limits.
What does the CONFIDENCE function not do?
As an example, the CONFIDENCE function does not allow us to infer that there is a probability 1 - alpha that our next package will take a delivery time in the confidence interval, where alpha is the significance level.

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