CONFIDENCE

Definition: CONFIDENCE is a function that returns the confidence interval for a population mean.

Syntax: =CONFIDENCE(alpha, standard_dev, size)

Situation: This formula is suitable when you need to calculate the confidence interval for a population mean from a sample.

Example: If you have a sample size of 30, a standard deviation of 5, and a confidence level of 95%, the confidence interval can be found using the formula =CONFIDENCE(0.05, 5, 30), which returns a value of 1.74.