Title: Confidence Interval Function in Excel | Udemy Blog
Headings: Confidence Interval Function in Excel
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Confidence Interval Function in Excel
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What is Confidence Interval?
Significance of Confidence Interval
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How to Construct Confidence Interval?
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Confidence Interval = x ± CONFIDENCE
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What are Confidence Limits?
Formats of CONFIDENCE Function

Content: If we now want to know the average weight of the entire population in that particular city, it is highly unlikely that the average for this bigger population will have the same average as our sample of just 100 people. It is much more likely that our sample mean of 155 Pounds may be approximately equal to an (unknown) population mean and we also need to how accurate is our estimated answer. This uncertainty associated with the interval estimate is called the confidence level. For example, if you describe the interval estimate as a “95% confidence interval”, means that if we used the same sampling method to select different samples and computed an interval estimate for each sample, we would expect the true population parameter to fall within the interval estimates 95% of the time. The CONFIDENCE (alpha, sigma, n) function returns a value which you can use to construct a confidence interval for a population mean. It is assumed that the sample data follow a standard normal distribution with known standard deviation sigma, and the sample size is n. Alpha is a small probability, such as 0.05, and 0 < alpha < 1. For a 95% confidence level, alpha is calculated as 1 – 0.95 = 0.05. If you get an error after performing an Excel Confidence function then it is likely to be one of the following common errors: Excel students also learn
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#NUM! – Occurs if either alpha is ≤ 0 or ≥ 1 or if the supplied standard deviation is ≤ 0 or if the supplied size argument is < 1
#VALUE! –