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#1
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I was wondering if anyone with some stats skills can help me out here. I just started keeping track of my bets in excel. I was wondering if anyone knows how to do a confidence interval based on my results. I have bets won, lost and my win pct listed and next to the win pct, I would like to have a confidence interval next to the win pct. Does anyone know how to do this?
I know that Excel has the =confidence() function but I'm not sure what I would put in as my standard deviation. Anyone that can help me out would be a god. |
#2
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Well, with a little research I may have figured this out. What I found was that I needed to estimate my standard deviation by taking the square root of my win pct. times 1-win pct with that divided by my total games.
I take that number time 1.96, which is the z score for a 95% interval, and then add and subtract that to my win pct. If that is wrong, fill in the blanks if you know them. |
#3
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#4
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While the link is informative and is exactly what I need, I don't have the slightest idea how to implement that in Excel. Any clue?
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#5
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Just go to Tools > Data Analysis and pick whichever you need and it'll calculate the confidence interval for you.
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#6
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= 4.
any other math questions? anyone? |
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