This function calculates the margin of error from a range of values and a confidence level.

Sample Usage

MARGINOFERROR(A1:A7, 0.95)

MARGINOFERROR(A1:C3, 0.99)

Syntax

MARGINOFERROR(range, confidence)

  • Range- The range of values used to calculate the margin of error.
  • Confidence- The desired confidence level between (0, 1).

Notes

  • The margin of error is a statistical measurement used to determine the amount of error due to chance in a random sample of a population.
    • A large margin of error indicates that the estimate of the parameter of a given sample may not represent the parameter of the entire population.
    • The margin of error decreases when the sample size is greater.
    • Surveys with less differences in responses between participants also have smaller margins of error.
  • The confidence level is the likelihood that the true mean of the population lies in the margin of error above or below the sample mean.
  • MARGINOFERROR(range, confidence) is equal to CONFIDENCE.T(1 - confidence, STDEV(range), COUNT(range)).
  • The margin of error calculation is appropriate for:
    • Continuous data normally distributed.
    • Surveys with large sample sizes.

Examples

A
1
2
3
4
Mean
Formula
Result of MARGINOFERROR
Confidence Interval
Lower Bound (Mean - MARGINOFERROR)
Upper Bound (Mean - MARGINOFERROR)