What is the purpose of the NORMINV function?

The NORMINV function is specifically designed to return the inverse of the normal distribution for a specified probability, mean, and standard deviation. This means that it takes a probability value (e.g., the area under the curve to the left of a certain value) and calculates the corresponding value from the normal distribution that would yield that probability.

For instance, if you want to know what z-score corresponds to the 95th percentile of a normal distribution, you would use the NORMINV function with the appropriate mean and standard deviation. This functionality is particularly useful in statistical analysis and decision-making, where understanding the thresholds or cutoff points under normal distribution can guide actions based on probabilities.

The other options focus on related concepts but do not accurately describe the role of the NORMINV function. Instead of identifying the mean or calculating the standard deviation, which are descriptive statistics, or finding the probability itself, the NORMINV function directly provides the score or value that corresponds to a given probability.