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#1
Trying to find the right formulation to work out the confidence interval.

The data set is on the set and my solution for a 99% confidence interval for profits given the data is [£4,106.92. £19,351.08]

My question is do I input alpha as 0.05 as oppose to 0.1 on an excel spreadsheet to find a 99 confidence interval.

Formula for confidence range is in the input formula box above, to see what cells were used.
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4 years ago
#2
(Original post by Abdul-Karim)
Trying to find the right formulation to work out the confidence interval.

The data set is on the set and my solution for a 99% confidence interval for profits given the data is [£4,106.92. £19,351.08]

My question is do I input alpha as 0.05 as oppose to 0.1 on an excel spreadsheet to find a 99 confidence interval.

Formula for confidence range is in the input formula box above, to see what cells were used.
You should use alpha = 0.01 for a 99% confidence interval.
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