I was informed that I want Prediction Interval by my coworker. I no longer need the Confidence Interval.Yet I still went ahead and calculated the values I would get if I used the NORMINV function.
=NORMINV(.025, .317153, .23099973) = -.135597829
=NORMINV(0.975,0.317153322, .2309997)...
I'm sorry, you're right. It's just that my co worker said CI when giving me the assignment. It looks like he misused the term though.
I know that not taking the absolute value can be useful in some situations. I have been asking you about whether taking the absolute value in this scenario...
Maybe I'm using the program wrong (I don't think I am), but it's not coming up with any results.
I have no Y values, only X's, so that may be the problem? There are lots of errors for almost every test. And when I click the "scan for bestfit" button, the 20 or so different best fit models...
I recreated this thread in a simpler format.
Please go here to answer my questions! Thank you everyone for all your help (especially Stephen)!
https://www.physicsforums.com/showthread.php?p=3359844#post3359844
Before you begin reading, I want to say thank you for helping, or attempting to help me. I really appreciate any help you can give me! Also, warning: Wall of Text approaching fast.
EDIT: I've been informed by Stephen Tashi on this forum that I am misusing the term Confidence Interval. What...
I did a few best fit distributions. None of them look like they correlate.
Linear: -.0213
Power: .0282
Polynomial: .0468
Logarithmic: .0055
Exponential: .0419
None of those r2 are even close. grr
How can you have less than 0 percentage error? 0 % error means the value is correct. How can something be so correct that is has a negative percent error...
Can you please explain why "percentage error" does not have to be between 0 and 100 and "percentage" does, in this scenario? And also your...
Then PERCENTILE is not what I want? What do you mean by separate parameter estimates? I need to make sure the exchange rate % error is not going to be a problem. My boss can determine if the % error will cause a problem if I can give him with 95% confidence what future values will lie between...
Before you begin reading, I want to say thank you for helping, or attempting to help me. I really appreciate any help you can give me! Also, warning: Wall of Text approaching fast.
Yes. I want, "We are 95% confident that future value will fall in between xxx and xxx".
I mean, I think my...
I also need to know how to determine a bestfit distribution, i crated the thread here: https://www.physicsforums.com/showthread.php?p=3356653#post3356653
I still need help on this, though!
I need to find the bestfit distribution for this. I'm using excel, so I need to be able to use xcel to graph it.
[PLAIN]http://img831.imageshack.us/img831/8770/unledcwx.png
So that would find the middle 95% of my set of data. But is this what I am wanting? Is the value that this gave me the confidence range? I need to do a C.I. and I think this is different.
I'm using excel to calculate this, but I have a few questions.I have a list which has 48 values, one per day, for the percent error of something (not important to the question).
I
I need to find the 95% confidence interval, but not of the mean. I used the "=CONFIDENCE" formula that comes with...