Unlike many other built-in functions, Excel does not currently have a dedicated formula to calculate standard error directly. But don’t worry—this guide will walk you through it step by step, even if you have little technical background.
Definition and Importance of Standard Error
The standard error (S.E.) of a sample shows how close the sample mean is likely to be to the true average of the entire population, especially since working with the entire population is often not possible. Instead, we use samples. Standard error also helps you measure the spread and reliability of your sample results.
Standard Error Formula
In statistics, the standard error is calculated as the standard deviation divided by the square root of your sample size: where n is the size of your sample.
Standard Error Formula in Excel
While many statisticians are familiar with the formula above, using Excel for automatic calculations can save time and improve accuracy. In Excel, you can use the following function to calculate the standard deviation of your sample: Note: STDEV and STDEV.S both calculate the standard deviation for a sample. STDEV.P is used when you have data for an entire population. To count your sample size in Excel, use: And to find the square root of your sample size: Putting this together, your Excel formula for Standard Error becomes: For example, if your data is in cells B1 through G4:
Calculating Standard Error In Excel
You can break down the process of calculating standard error in Excel into a few simple steps:
Prepare Your Sheet and Enter Your Data
First, set up your Excel sheet and enter your data. It’s helpful to use clear labels as column headings. In the example image below, sample data is located from B2 to B11. There are two main ways to calculate the standard error in Excel: by using separate formulas for each step, or by combining everything into a single formula. We’ll start with the step-by-step method to make things clear.
1.1. Calculate Standard Deviation
1.1.1. Count the Sample Size
1.2. Calculate the Square Root of the Sample Size
1.3. Calculate Standard Error
2. Use a Single Formula to Calculate Standard Error in Excel
If you prefer, you can skip the step-by-step method and use a single combined formula. Now that you understand each part.
3. Use Analysis ToolPak to Calculate Standard Deviation and Count in Excel
You can also use Excel’s Analysis ToolPak add-in for a more automated approach to calculating standard deviation and count, which can then be used to calculate the standard error. If you have any questions about calculating standard error in Excel, please feel free to ask in the comments below!
