BackConfidence Intervals for Population Means - Excel definitions
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1/15BackSkip to main contentBackConfidence Interval
A range calculated from sample data that likely contains the true population mean at a specified confidence level. Population Mean
The average value for all members of a group, estimated using sample data and statistical methods. Sample Mean
The average value computed from a subset of data, used as an estimate for the population mean. Margin of Error
The amount added and subtracted from the sample mean to set the bounds of a confidence interval. Alpha
The probability of error, calculated as one minus the confidence level, used in confidence interval formulas. Confidence Level
The percentage indicating how certain one is that the interval contains the true population mean. Population Standard Deviation
A measure of spread for all data in a population, required for certain confidence interval calculations. Sample Standard Deviation
A measure of spread within sample data, used when the population standard deviation is unknown. Sample Size
The number of data points in a sample, affecting the precision of the confidence interval. Lower Bound
The smallest value in a confidence interval, found by subtracting the margin of error from the sample mean. Upper Bound
The largest value in a confidence interval, found by adding the margin of error to the sample mean. Normal Distribution
A bell-shaped curve used when the population standard deviation is known for confidence interval calculations. T Distribution
A probability distribution used for confidence intervals when the population standard deviation is unknown. CONFIDENCE.NORM
An Excel function that calculates the margin of error for a confidence interval using the normal distribution. CONFIDENCE.T
An Excel function that calculates the margin of error for a confidence interval using the t distribution.
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