How to Calculate a Standard Error of Regression Slope in Excel

 

Method 1 – Calculating the Standard Error of the Regression Slope with a Scatter Chart in Excel

STEPS:

  • Select cell (B4:C9).
  • Go to the Insert tab.
  • Click on the ‘Insert Scatter (X, Y) or Bubble Chart’ Icon.
  • Select the first scatter chart.

Calculate Standard Error of Regression Slope with Scatter Chart in Excel

  • A chart like the following image will appear. We can see data points on the chart.
  • Right-click on any data point and select the option ‘Add Trendline’.

Calculate Standard Error of Regression Slope with Scatter Chart in Excel

  • The above action will insert a trendline in the graph.
  • Click on the trendline.
  • Go to the Trendline Options.
  • Check the options ‘Display Equation on chart’ and ‘Display R-squared value on chart’.

Calculate Standard Error of Regression Slope with Scatter Chart in Excel

  • Select the chart.
  • Go to Chart Design > Add Chart Element > Axis Title.
  • Set axis titles using the option ‘Primary Horizontal’ and ‘Primary Vertical’.

Calculate Standard Error of Regression Slope with Scatter Chart in Excel

  • Our table will look like the following image.

Calculate Standard Error of Regression Slope with Scatter Chart in Excel

  • Following the trendline equation, insert the below formula in cell D5:
=4.2202*B5 + 122.98
  • Press Enter.
  • We get the predicted price from the trendline in cell D5.

  • Drag the Fill Handle tool from cell D5 to D9.

  • Insert the following formula in cell E5:
=C5-D5
  • Press Enter.
  • We get the standard error for the first point in cell E5.

  • Drag the Fill Handle tool from cell E5 to E9.
  • We get standard errors of regression slope for all the data points.

Read More: How to Calculate Standard Error of Regression in Excel


Method 2 – Applying the Excel LINEST Function to Calculate Standard Error Along with Uncertainty of Regression Slope

STEPS:

  • Select cells (C11:D12).
  • Enter the following formula in cell C11:
=LINEST(C5:C9,B5:B9,1,1)
  • Don’t press Enter. Press Ctrl + Shift + Enter since it is an array formula.

Excel LINEST Function to Calculate Standard Error Along with Uncertainty of Regression Slope

  • The above command will give results like the following image.

Excel LINEST Function to Calculate Standard Error Along with Uncertainty of Regression Slope

  • Insert that formula in cell D5:
=$C$11*B5+$D$11
  • Press Enter.
  • We get the predicted price in cell D5.

Excel LINEST Function to Calculate Standard Error Along with Uncertainty of Regression Slope

  • Drag the Fill Handle tool from cell D5 to D9.

  • To calculate the standard error, insert the following formula in cell E5:
=C5-D5
  • Press Enter.

  • Drag the Fill Handle tool from cell E5 to E10.
  • We get standard errors of regression slope for all the data points.

Read More: How to Calculate Standard Error of Skewness in Excel


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Mukesh Dipto
Mukesh Dipto

Mukesh Dipto is an excellent marine engineer who loves working with Excel and diving into VBA programming. For him, programming is like a superhero tool that saves time when dealing with data, files, and the internet. His skills go beyond the basics, including Rhino3D, Maxsurf C++, AutoCAD, HTML, CSS, JavaScript, and WordPress. He got his B.Sc in Naval Architecture & Marine Engineering from BUET, and now he's switched gears, working as a content developer. In this role, he... Read Full Bio

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