Confidence Interval
The individual CONFIDENCE() function [CONFIDENCE(alpha, STDEV, n)] returns a
different confidence interval than if you use Descriptive Statistics Analysis [ToolsData AnalysisDescriptive Statistics]. In fact, I've been witnessing a 25% difference between the two values. Any ideas why these two methods of calculating the confidence interval yield different results? |
Confidence Interval
The CONFIDENCE() function is rarely appropriate, because you rarely know the
population standard deviation. For an estimated standard deviation, you should use CONFIDENCE(alpha,S,n)*(-TINV(alpha,n-1)/NORMSINV(alpha/2)) The multiplicative factor which will roughly equal 1.25 when n=7 Jerry "cwbecker" wrote: The individual CONFIDENCE() function [CONFIDENCE(alpha, STDEV, n)] returns a different confidence interval than if you use Descriptive Statistics Analysis [ToolsData AnalysisDescriptive Statistics]. In fact, I've been witnessing a 25% difference between the two values. Any ideas why these two methods of calculating the confidence interval yield different results? |
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