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Compare CONFIDENCE vs FORECAST

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Compare CONFIDENCE vs FORECAST side-by-side — differences, popularity and recommendation

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All functions Pick at least 2 functions
Feature
Compatibility
=CONFIDENCE()
Syntax
Compatibility
=FORECAST()
★ Winner
Syntax
Category
Compatibility compatibility
Compatibility compatibility
Popularity
28 / 100
35 / 100
Views
◉ 36 views
◉ 59 views
Output
Number
Number
Version
Excel 2007 (Compatibility)
All versions
Volatile
No
No
Dynamic Array
No
No
Description
Returns the confidence interval for a population mean, using a normal distribution. The confidence interval is a range of values. Your sample mean, x, is at the center of this range and the range is x ± CONFIDENCE. For example, if x is the sample mean of delivery times for products ordered through the mail, x ± CONFIDENCE is a range of population means. For any population mean, μ0, in this range, the probability of obtaining a sample mean further from μ0 than x is greater than alpha; for any population mean, μ0, not in this range, the probability of obtaining a sample mean further from μ0 than x is less than alpha. In other words, assume that we use x, standard_dev, and size to construct a two-tailed test at significance level alpha of the hypothesis that the population mean is μ0. Then we will not reject that hypothesis if μ0 is in the confidence interval and will reject that hypothesis if μ0 is not in the confidence interval. The confidence interval does not allow us to infer that there is probability 1 – alpha that our next package will take a delivery time that is in the confidence interval. For more information about the new functions, see CONFIDENCE.NORM function and CONFIDENCE.T function.
Predicts a future value based on a linear trend (the legacy FORECAST.LINEAR)
Syntax
=CONFIDENCE(alpha,standard_dev,size)
=FORECAST(x, known_y's, known_x's)
Arguments
3 Arguments
alpha standard_dev size
3 Arguments
x known_y's known_x's
Examples
1
2
Tips
3
3

★ Recommendation — Winner: =FORECAST()

=FORECAST() is recommended based on higher popularity, newer version and Dynamic Array support.

Winner: =FORECAST()