How to Use the CRITBINOM Function in Excel
In Excel and Google Sheets, the CRITBINOM function is designed to compute the smallest value for which the cumulative binomial distribution is less than or equal to a specific probability threshold. It is particularly useful for finding the minimum number of successful outcomes necessary to reach a given cumulative probability in a sequence of Bernoulli trials.
Syntax:
=CRITBINOM(trials, probability_s, probability_cumulative)- trials: The total number of Bernoulli trials.
- probability_s: The probability of success in each trial.
- probability_cumulative: The target cumulative probability level.
Examples:
Consider a scenario in which we conduct 10 trials, each with a success probability of 0.3. We aim to find the smallest number of successes required to reach or exceed a cumulative probability of 0.9.
| Excel | Google Sheets |
|---|---|
|
|
| Result: 7 | Result: 7 |
This result shows that to attain or exceed a cumulative probability of 0.9 in 10 trials, each with a success rate of 0.3, a minimum of 7 successful outcomes is necessary.
Applications:
The CRITBINOM function can be leveraged in various practical scenarios, including:
- Determining the minimum number of sales needed to achieve a specified conversion target
- Calculating the minimum number of correct responses required on a test to achieve a designated pass rate
- Estimating the least number of successful completions necessary to attain a target success rate in marketing endeavors
More information: https://support.microsoft.com/en-us/office/critbinom-function-eb6b871d-796b-4d21-b69b-e4350d5f407b