CONFIDENCE.NORM
Formulas / CONFIDENCE.NORMCalculate a confidence interval for a population mean using a normal distribution.
==CONFIDENCE.NORM(alpha, standard_dev, size)
- alpha - the significance level used to calculate the confidence level
- standard_dev - the standard deviation for the data set
- size - the sample size
Examples
=CONFIDENCE.NORM(A2:A4, 0.95)The CONFIDENCE.NORM function computes a confidence interval for the population mean based on a sample of data.
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Summary
The CONFIDENCE.NORM function calculates a confidence interval for a population mean using a normal distribution. As an example, it can be used to estimate the probability of the next package taking a delivery time within the confidence interval.
- The CONFIDENCE.NORM function calculates a confidence interval for a population mean, which is a range of values that includes the population mean and is the sample mean plus one standard deviation.
- The CONFIDENCE.NORM function uses a normal distribution to calculate the confidence interval.
Frequently Asked Questions
What Does the CONFIDENCE.NORM Function Do?
The CONFIDENCE.NORM function calculates a confidence interval using a normal distribution. The confidence interval is a range of values that uses a normal distribution to calculate the confidence interval.
What Can You Infer From the Confidence Interval?
The confidence interval does not allow the analyst to infer that there is probability 1 - alpha that the next package will take a delivery time that is in the confidence interval.
What Happens if Standard_Dev is Less Than 0?
The CONFIDENCE.NORM does not return the #NUM! error if standard_dev is less than 0.
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