Difference between revisions of "Manuals/calci/CONFIDENCE"
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*<math>StandardDeviation</math> is the value of the standard deviation. | *<math>StandardDeviation</math> is the value of the standard deviation. | ||
*<math>Size</math> is the size of the sample. | *<math>Size</math> is the size of the sample. | ||
+ | **CONFIDENCE(), returns the confidence interval for a population mean. | ||
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4. Specify the confidence interval. | 4. Specify the confidence interval. | ||
*Normally once standard error value is calculated, the confidence interval is determined by multiplying the standard error by a constant that reflects the level of significance desired, based on the normal distribution. | *Normally once standard error value is calculated, the confidence interval is determined by multiplying the standard error by a constant that reflects the level of significance desired, based on the normal distribution. | ||
− | *In <math>CONFIDENCE( | + | *In <math>CONFIDENCE (Alpha,StandardDeviation,Size)</math> , <math>Alpha</math> is the alpha value which is indicating the significance level used to find the value of the confidence level. |
− | *It equals <math>100*(1- | + | *It equals <math>100*(1-Alpha)%</math>, or alpha of 0.05 indicates a 95 percent confidence level. |
*This value is <math> \pm </math> 1.96 | *This value is <math> \pm </math> 1.96 | ||
*<math> StandardDeviation </math> is the standard deviation of the population for the data range. | *<math> StandardDeviation </math> is the standard deviation of the population for the data range. | ||
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*Suppose with the population of 10 for the standard deviation 3.2, with the alpha value 0.2 then, CONFIDENCE(0.2,3.2,10) =1.296839. | *Suppose with the population of 10 for the standard deviation 3.2, with the alpha value 0.2 then, CONFIDENCE(0.2,3.2,10) =1.296839. | ||
*So the Confidence interval value is <math> 10\pm 1.296839= approximately[11.29,8.70]</math>. | *So the Confidence interval value is <math> 10\pm 1.296839= approximately[11.29,8.70]</math>. | ||
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==ZOS== | ==ZOS== |
Latest revision as of 16:20, 7 August 2018
CONFIDENCE (Alpha,StandardDeviation,Size)
- is alpha value which is indicating the significance level.
- is the value of the standard deviation.
- is the size of the sample.
- CONFIDENCE(), returns the confidence interval for a population mean.
Description
- This function gives value of the confidence intervals.
- Confidence intervals are calculated based on the standard error of a measurement.
- It is measures the probability that a population parameter will fall between lower bound and upper bound of the values.
- There are four steps to constructing a confidence interval.
1. Identify a sample statistic. 2. Select a confidence level. 3. Find the margin of error. 4. Specify the confidence interval.
- Normally once standard error value is calculated, the confidence interval is determined by multiplying the standard error by a constant that reflects the level of significance desired, based on the normal distribution.
- In , is the alpha value which is indicating the significance level used to find the value of the confidence level.
- It equals , or alpha of 0.05 indicates a 95 percent confidence level.
- This value is 1.96
- is the standard deviation of the population for the data range.
- is the size of the sample.
- Confidence interval is calculated using the following formula:
.
- So
- where is the sample mean,sigma is the standard deviation.
- This function will give the result as error when
1. Any one of the argument is nonnumeric. 2.Suppose 3. value of s is less than 1.
- Suppose with the population of 10 for the standard deviation 3.2, with the alpha value 0.2 then, CONFIDENCE(0.2,3.2,10) =1.296839.
- So the Confidence interval value is .
ZOS
- The syntax is to calculate CONFIDENCE in ZOS is .
- is value of the significance level.
- is the size of the sample.
- For e.g., CONFIDENCE(0.2,3.1,20)
- CONFIDENCE(0.67,8.3..10.3,51)
Examples
- =CONFIDENCE(0.6,4.6,20) = 0.539393789
- =CONFIDENCE(0.09,8.1,25) = 2.746544290
- =CONFIDENCE(0.001,18.8,50) = 8.74859415
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References