Microsoft Excel is an excellent tool for storing and analyzing data. It offers a wide range of statistical tools and formulas, making it easy to determine important statistics for different data sets. In this article, we'll explain how to calculate standard error in Excel (and what it is in the first place).
Standard Error of the Mean in Excel
The standard error shows how closely sample data fits a larger data set. In other words, it calculates how closely a distribution of data fits the entire population.
This is done by calculating the standard deviation, i.e., how far the mean of your sample deviates from the mean of the entire data set.
The formula for the standard error is:
