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EXCEL CONFIDENCE FUNCTION
Excel CONFIDENCE Function Introduction
The Excel Confidence function calculates a confidence value based on a Normal Distribution that may be used to generate the Confidence Interval for a population mean, given a probability and sample size. It is assumed that the population standard deviation is known.
Description of Excel CONFIDENCE Function
Syntax:
=CONFIDENCE( alpha, standard_dev, size )
Parameter :
- The following are the arguments:
alpha :
- The degree of significance (= 1 – confidence level).
(For example, a significance level of 0.05 corresponds to a confidence level of 95%.)
standard_dev :
- The population’s standard deviation.
size :
- The size of the population sample.
Step By Step Guide of CONFIDENCE Function
Example :
The Excel Confidence Function is used in the spreadsheet below to compute the confidence interval for the mean of a sample of 100 men’s heights with a significance of 0.05 (i.e. a confidence level of 95 percent). The standard deviation is 0.07 metres, while the sample mean is 1.8 metres.
Key Points
- #NUM! – Occurs if either: The supplied alpha is ≤ 0 or ≥ 1;
The supplied standard_dev is ≤ 0;
The supplied size argument is < 1. - #VALUE! – Occurs if any of the supplied arguments is non-numeric.
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