Excel

FORECAST.ETS.CONFINT: Excel Formulae Explained

How do you use FORECAST.ETS.CONFINT in Excel?

The FORECAST.ETS.CONFINT function in Excel is used to calculate the confidence interval for a forecasted value. The function takes four arguments: the forecasted value, the number of periods for the forecast, the standard deviation of the historical data, and the type of confidence interval. The function returns a two-element array consisting of the lower and upper bounds of the confidence interval.

What is the syntax of FORECAST.ETS.CONFINT in Excel?

The syntax of FORECAST.ETS.CONFINT in Excel is as follows:

=FORECAST.ETS.CONFINT(x,y,z,h,k)

x - The independent variable.

y - The dependent variable.

z - The number of periods for the forecast.

h - The number of periods for the confidence interval.

k - The number of decimal places for the confidence interval.

What is an example of how to use FORECAST.ETS.CONFINT in Excel?

An example of how to use FORECAST.ETS.CONFINT in Excel is to input historical data for a trend line, and then use the function to predict future values. The function will give you a confidence interval for the prediction, which can help you determine how accurate the prediction is.

When should you not use FORECAST.ETS.CONFINT in Excel?

There are a few occasions when you should not use FORECAST.ETS.CONFINT in Excel. One instance is when you have a series of data that does not follow a linear trend. In this case, the function will not be able to accurately predict future values. Another time you should not use FORECAST.ETS.CONFINT is when you have outliers in your data. If there are a few values that are significantly higher or lower than the rest of the data, it will throw off the predicted values. Finally, you should not use FORECAST.ETS.CONFINT if you only have a few data points. In this case, the function will not be able to produce a reliable prediction.

What are some similar formulae to FORECAST.ETS.CONFINT in Excel?

The Excel function FORECAST.ETS.CONFINT is used to calculate the confidence interval for a forecast using the Exponential Smoothing technique. The function takes the following arguments:

· forecast - the forecast value · span - the number of periods for the confidence interval · alpha - the smoothing parameter

The Excel function FORECAST.ETS.TEST is used to determine the statistical significance of a forecast. The function takes the following arguments:

· forecast - the forecast value · statistic - the statistic to be tested · degrees of freedom - the number of degrees of freedom · type - the type of test to be performed

The Excel function FORECAST.ETS.PERT is used to calculate the confidence interval for a forecast using the PERT technique. The function takes the following arguments:

· forecast - the forecast value · span - the number of periods for the confidence interval · alpha - the smoothing parameter · beta - the optimistic estimate · gamma - the pessimistic estimate · lambda - the most likely estimate

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