Hi -
I have a data set that is organized by date in column A and then in column B it is binary data of 0's and 1's where 1 means the customer was declined and 0 means it was not. Each week I calculate the rate that customers were declined and plot that out over a 12 week period. I now would like to incorporate confidence intervals into the report, so that if there is movement in the overall decline rate outside of the confidence interval I know it is something worth looking into.
Is there any way to do this with binary data? I know there is a CONFIDENCE function built into Excel (https://support.office.com/en-us/article/CONFIDENCE-function-75ccc007-f77c-4343-bc14-673642091ad6), however, the problem then becomes not knowing how to calculate the standard deviation of the data set because it is made up of just 0's and 1's.
Thanks in advance for any help and/or advice anyone can provide.
I have a data set that is organized by date in column A and then in column B it is binary data of 0's and 1's where 1 means the customer was declined and 0 means it was not. Each week I calculate the rate that customers were declined and plot that out over a 12 week period. I now would like to incorporate confidence intervals into the report, so that if there is movement in the overall decline rate outside of the confidence interval I know it is something worth looking into.
Is there any way to do this with binary data? I know there is a CONFIDENCE function built into Excel (https://support.office.com/en-us/article/CONFIDENCE-function-75ccc007-f77c-4343-bc14-673642091ad6), however, the problem then becomes not knowing how to calculate the standard deviation of the data set because it is made up of just 0's and 1's.
Thanks in advance for any help and/or advice anyone can provide.
