Solved

Data statistical significance with confidence factor

Posted on 2014-01-17
4
148 Views
Last Modified: 2014-02-26
Hi,

With a supplied set of data say...

0.2 1.4 3.2 2.2 6.4 3.1 9.2 5.3 3.3 2.9 etc

How can I calculate the statistical significance of this data and show the confidence level in %, and also if I wish it to be defined i.e. I want 95% confidence, how do I get it to inform me of the number of samples required to achieve this level?

Thank you
0
Comment
Question by:DemonForce
  • 2
4 Comments
 
LVL 24

Expert Comment

by:Steve
Comment Utility
For confidence levels you require more information than simply a list of numbers.

Can you provide a little more information about your goal and data.
0
 
LVL 42

Assisted Solution

by:Rob Jurd, EE MVE
Rob Jurd, EE MVE earned 250 total points
Comment Utility
0
 

Author Comment

by:DemonForce
Comment Utility
Ok, if I want 95% and I keep entering in numbers between 0.0 and 999.9, using mathematical techniques I need to know as I continue to type numbers in what the current confidence factor is, and how many more samples I need to keep inputting to get this to 95%
0
 
LVL 24

Accepted Solution

by:
Steve earned 250 total points
Comment Utility
But confident of what?
With these numbers between 0 and 1000 you want to 95% confident they are ... ?

You can determine the average of the numbers. "xBar"
You can determine the standard deviation of the numbers. "sigma"
you can then multiply the standard deviation by 1.96. "1.96sigma"
Then xBar - 1.96sigma = lower confidence interval at 95%
Then xBar + 1.96sigma = upper confidence interval at 95%
Therefore you could say that with the data there is a 95% chance numbers will fall between the upper and lower confidence levels (in a continuous process the likelihood is 95% that the next number will be between these numbers.

But to get to a practical confidence factor you would need to have a target for the upper and lower... such as "I want to be 95% confident that the numbers are between 250 and 750".

If you could provide more information on your goal and data, I am sure we could provide a more suitable answer tailored to your situation.

ATB
Steve.
0

Featured Post

Highfive + Dolby Voice = No More Audio Complaints!

Poor audio quality is one of the top reasons people don’t use video conferencing. Get the crispest, clearest audio powered by Dolby Voice in every meeting. Highfive and Dolby Voice deliver the best video conferencing and audio experience for every meeting and every room.

Join & Write a Comment

How to quickly and accurately populate Word documents with Excel data, charts and images (including Automated Bookmark generation) David Miller (dlmille) Synopsis In this article you’ll learn how to use ExcelToWord! to copy data,charts, shapes …
This code takes an Excel list of URL’s and adds a header titled “URL List”. It then searches through all URL’s in column “A”, looking for duplicates. When a duplicate is found, it is moved to the top of the list. The duplicate URL’s are then highlig…
This Micro Tutorial demonstrate the bugs in Microsoft Excel for Mac with Pivot Charts.
Excel styles will make formatting consistent and let you apply and change formatting faster. In this tutorial, you'll learn how to use Excel's built-in styles, how to modify styles, and how to create your own. You'll also learn how to use your custo…

772 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question

Need Help in Real-Time?

Connect with top rated Experts

14 Experts available now in Live!

Get 1:1 Help Now