While working with large Microsoft Excel, now and then, we have to calculate the standard error. Calculating Standard errors in Excel is an easy task. This is a time-saving task also. Today, in this article, we’ll learn three quick and suitable steps to calculate standard error in Excel effectively with appropriate illustrations.
Introduction to Standard Error
The standard error (SE) denotes the variability of the given dataset. Mainly, it is the standard deviation of the sampling distribution. The formula for calculating the SE is as follows-
SE = Standard Deviation / Sqrt(N)
Where N is the sample size.
Skewness represents the degree of asymmetry in a given set of data. In a distribution, when the tail on the left side is longer, you may say that the distribution is negatively skewed (left-skewed). On the contrary, a distribution will be positively skewed (right-skewed) if the tail on the right side is longer than on the left side. You can determine the standard error of skewness (SES) when the value of skewness is so large. The SES is mainly the ratio of skewness regarding the standard error of the given dataset. However, the standard value of the SES lies between -2 to +2. Let’s look at the following equation for calculating the standard error of skewness (SES).
Where N is the sample size.
Calculate Standard Error in Excel: 3 Easy Steps
Let’s assume we have an Excel large worksheet that contains the information about several students of Armani School. The name of the students, the Identification Number, and the securing marks in Electrical and Electronics Engineering(EEE) are given in Columns B, C, D, and E respectively. We can easily calculate standard error in Excel by using COUNTA, STDEV, SQRT Functions, and so on. Here’s an overview of the dataset for today’s task.
Step 1: Calculate Standard Deviation in Excel
To calculate the standard error, firstly, we will calculate the standard deviation. From our dataset, we can easily calculate the standard deviation. Let’s follow the instructions below to calculate the standard deviation!
- First of all, select a cell. We will select cell D15 for the convenience of our work.
- After selecting cell D15, write down the COUNTA function in that cell. The COUNTA function is,
- Hence, press ENTER on your keyboard. You will get 10 as the return of the COUNTA function which is the sample size.
- After calculating the sample size, we will calculate the mean of the marks secured in the EEE subject by the students. Write down the below formula in cell D16.
- Again, press ENTER on your keyboard, and you will get 76.4 as the return of the AVERAGE function.
- Now, we will calculate the standard deviation by using the STDEV Type the STDEV function in cell D17.
- Further, press ENTER on your keyboard, and you will get 7.974960815 as the return of the STDEV function.
Read More: How to Calculate SEM in Excel
Step 2: Calculate Standard Error in Excel
Meanwhile, we will calculate the standard error by using the standard deviation. Let’s follow the instructions below to calculate the standard error!
- Firstly, select cell D18. Then write down the below formula in that cell. The formula is,
- Where D17 is the standard deviation, and D15 is the sample size.
- After typing the formula, press ENTER on your keyboard. You will get 2.521904043 as the standard error. As our standard error is greater than 2, we will calculate the Standard Error of Skewness(SES).
Read More: How to Find Residual Standard Error in Excel
Step 3: Calculate Standard Error of Skewness in Excel
Last but not the least, in this step, we will calculate the standard error of skewness as our standard error is 2.521904043 which is greater than 2. Let’s follow the instructions below to calculate the standard error of skewness!
- To calculate the standard error of skewness, select cell D19 and type the SQRT function in that cell. The SQRT function is,
- Further, press ENTER on your keyboard, and you will be able to calculate the standard error of skewness. The standard error of skewness is 0.647750276 which has been given in the below screenshot.
Things to Remember
👉 Make sure the number of columns of the first matrix is equal to the number of rows of the second matrix before starting to multiply them.
👉 In Microsoft 365, Excel will show the #Value! Error if you don’t select the proper dimension. The #Value! error occurs when any of the elements of the matrices is not a number.
Download Practice Workbook
Download this practice workbook to exercise while you are reading this article.
I hope all of the suitable methods mentioned above to calculate standard error will now provoke you to apply them in your Excel spreadsheets with more productivity. You are most welcome to feel free to comment if you have any questions or queries.
- How to Calculate Standard Error of Regression Slope in Excel
- How to Calculate Standard Error of Regression in Excel
- How to Calculate Standard Error of Correlation Coefficient in Excel
- How to Find Standard Error of Estimate in Excel