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Microsoft Excel Office 365
Learn How to Use Microsoft Excel FORECAST.ETS.CONFINT Function
In this article, you will learn how to use Microsoft Excel FORECAST.ETS.CONFINT function and its prime function in Microsoft Excel. You will also get to know Microsoft Excel FORECAST.ETS.CONFINT function return value & syntax with the help of some example
Microsoft Excel FORECAST.ETS.CONFINT Function
The main purpose of the Microsoft Excel FORECAST.ETS.CONFINT function is to get the confidence interval for forecast value at a given date. That implies, with the help of FORECAST.ETS.CONFINT function you can able to returns a confidence interval for a forecast value at a specific point on a timeline. It is designed to be used along with the FORECAST.ETS functions as a way to show forecast accuracy. So, with the help of FORECAST.ETS.CONFINT function, you can able to get the confidence interval for forecast value at a given date.
Return Value of FORECAST.ETS.CONFINT Function
The return value will be the confidence interval value.
Syntax of FORECAST.ETS.CONFINT Function
=FORECAST.ETS.CONFINT(target-date, values, timeline, [confidence-level], [seasonality], [data-completion], [aggregation])
Where the arguments:
- target-date: This is the time or period for the prediction (x value).
- values: This is the existing or historical values (y values).
- timeline: This is the numeric timeline values (x values).
- confidence-level: This is the number between 0 and 1, default is 0.95 (optional).
- seasonality: This is the Seasonality calculation, where 0 = no seasonality, 1 = automatic, n = season length in timeline units (optional).
- data-completion: This is the Missing data treatment, where, 0 = treat as zero, 1 = average and default is 1 (optional).
- aggregations: This is the Aggregation behavior. Default is 1 AVERAGE (optional).
How to Use Microsoft Excel FORECAST.ETS.CONFINT Function?
So we know that, Microsoft Excel FORECAST.ETS.CONFINT function you can able to get the confidence interval for forecast value at a given date. That implies, with the help of FORECAST.ETS.CONFINT function you can able to returns a confidence interval for a forecast value at a specific point on a timeline. It is designed to be used along with the FORECAST.ETS functions as a way to show forecast accuracy. So, with the help of FORECAST.ETS.CONFINT function, you can able to get the confidence interval for forecast value at a given date.
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