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Problems With Using Microsoft Excel For Statistics
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Distributions in Microsoft Excel 97", Computational Statistics and Data Analysis, . Specialists Using Microsoft Excel), untitled 19. page Word file, .
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The next example shows the help supplied for the confidence interval function. Example: Excel 2000 Confidence Function “CONFIDENCE Returns the confidence interval for a population mean. The confidence interval is a range on either side of a sample mean. For example, if you order a product through the mail, you can determine, with a particular level of confidence, the earliest and latest the product will arrive. ” [emphasis mine] The material emphasized, is, of course, a basic misstatement of the meaning of a confidence interval. A last example displays the help given for the standard deviation function. Example: Excel 2000 STDEV Function “STDEV Estimates standard deviation based on a sample. The standard deviation is a measure of how widely values are dispersed from the average value (the mean). (snip...) Remarks (snip...) The standard deviation is calculated using the " nonbiased " or "n-1" method. STDEV uses the following formula:
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