Hi Dora,

The confidence level in descriptive statistics refers to the degree of certainty or probability that the true population parameter falls within a certain range of values. In your case, the confidence level of 95% means that if you were to repeat your data collection process multiple times, 95% of the time the true population mean would fall within the range of your calculated mean plus or minus the confidence interval.

The confidence interval is calculated based on the sample size, standard deviation, and the desired level of confidence. In your data, the confidence level of 95% with a confidence interval of 78,026.70 means that you can be 95% confident that the true population mean falls within the range of 617,416.82 plus or minus 78,026.70. This range is called the confidence interval.

The confidence interval is a measure of the precision of your estimate of the population mean. A smaller confidence interval indicates a more precise estimate, while a larger confidence interval indicates a less precise estimate. In your case, the confidence interval of 78,026.70 is relatively small compared to the mean and standard deviation, which suggests that your estimate of the population mean is relatively precise.

I hope this helps clarify what Excel's "confidence level" means in descriptive statistics. Let me know if you have any other questions or if there's anything else I can help you with.

Best,
[Your Name]