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Finding Probabilities and T Critical Values - Excel definitions

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  • T Critical Value
    A cutoff point on the t-distribution used to define boundaries for confidence intervals or hypothesis tests.
  • Confidence Interval
    A range of values, calculated from sample data, likely to contain the true population parameter with a specified probability.
  • Degrees of Freedom
    A parameter, typically calculated as sample size minus one, that shapes the t-distribution for statistical analysis.
  • Alpha
    The probability of error in the tails, found by subtracting the confidence level from one; used to determine critical regions.
  • Left Tail Probability
    The likelihood that a t score falls below a specified value in the t-distribution.
  • Right Tail Probability
    The likelihood that a t score exceeds a specified value in the t-distribution.
  • Two Tail Probability
    The combined probability in both extremes of the t-distribution, relevant for two-sided tests or intervals.
  • Complement Rule
    A method for converting right-tail probabilities to left-tail by subtracting from one.
  • T Score
    A standardized value indicating how far a sample statistic is from the population mean, measured in units of standard error.
  • T.INV.2T Function
    An Excel tool that returns the t critical value for a given two-tail probability and degrees of freedom.
  • T.INV Function
    An Excel tool that returns the t score for a specified left-tail probability and degrees of freedom.
  • T.DIST Function
    An Excel tool that calculates the cumulative left-tail probability for a given t score and degrees of freedom.
  • T.DIST.RT Function
    An Excel tool that calculates the right-tail probability for a given t score and degrees of freedom.
  • T.DIST.2T Function
    An Excel tool that calculates the two-tail probability for a given t score and degrees of freedom.
  • Sample Size
    The number of observations in a dataset, used to determine degrees of freedom and other statistical measures.