The CONFIDENCE function returns the confidence interval of the population average by using a normalized distribution. This confidence interval is a range of values, you need to know the sample size as well as the overall standard deviation and how important the data is when performing calculations with this function.
The CONFIDENCE function returns a confidence interval
Instructions on how to use the CONFIDENCE function in Excel – Illustrative example
Syntax: CONFIDENCE(alpha,standard_dev,size)
Where:
Alpha : Required – Is the Critical Level used to calculate the confidence level. The confidence level will be equal to 100*(1 – alpha)%.
– standard_dev : Required – Is the overall standard deviation for the data range and is assumed to have been defined.
– Size: Must-have – Is the Sample Size
Consider Examples:
You enter in excel your actual values corresponding to the parameters of the function in excel cells. In this example we calculate with the parameter values: Importance is 0.08, Standard deviation of the population is 3, and Sample Size is 40:
Enter the formula in cell C9. And the calculated result of the function obtained is 0.830423318 :
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So you already know how to use the CONFIDENCE function in Excel. This is a very effective data evaluation function. You need to pay attention to enter the sample size in the form of integers for the function to calculate the correct result. You can apply this function on versions of Office 2013, Office