Have a Question?
Phone: +1 (888) 4279486
+1 (312) 2573777
Contact Us
TEST_MEAN
Calculates the pvalue of the statistical test for the population mean.
Syntax
TEST_MEAN(x, mean)
x
is the data sample (a one dimensional array of cells (e.g. rows or columns)).
mean
is the assumed population mean. If missing, the default value of zero is assumed.
Remarks
 The sample data may include missing values (e.g. #N/A).

The test hypothesis for the population mean:
Where:
 is the null hypothesis^{i}.
 is the alternate hypothesis.
 is the assumed population mean.
 is the actual population mean.

For the case in which the underlying population distribution is normal, the sample mean/average has a Student's t with T1 degrees of freedom sampling distribution:
Where:
 is the sample average.
 is the population mean/average.

is the sample standard deviation.
 is the number of nonmissing values in the data sample.
 is the Student's tDistribution.
 is the degrees of freedom of the Student's tDistribution.
 The Student's tTest for the population mean can be used for small and for large data samples.
 This is a twosides (i.e. twotails) test, so the computed pvalue should be compared with half of the significance level ().
 The underlying population distribution is assumed normal (Gaussian).
Examples
Example 1:
A  B  

1  Date  Data 
2  1/1/2008  #N/A 
3  1/2/2008  0.95 
4  1/3/2008  0.88 
5  1/4/2008  1.21 
6  1/5/2008  1.67 
7  1/6/2008  0.83 
8  1/7/2008  0.27 
9  1/8/2008  1.36 
10  1/9/2008  0.34 
11  1/10/2008  0.48 
Formula  Description (Result)  

=AVERAGE($B$2:$B$11)  Sample mean (0.0256)  
=TEST_MEAN($B$2:$B$11,0)  pvalue of the test (0.472) 
Files Examples
References
 K.L. Lange, R.J.A. Little and J.M.G. Taylor. "Robust Statistical Modeling Using the t Distribution." Journal of the American Statistical Association 84, 881896, 1989
External Links
 Hurst, Simon, The Characteristic Function of the Studentt Distribution , Financial Mathematics Research Report No. FMRR00695, Statistics Research Report No. SRR04495