MARGINOFERROR function

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 8
2 4
3 3
4 6
Mean 5.25
Formula =MARGINOFERROR(A1:A4, 0.95)
Result of MARGINOFERROR 3.528
Confidence Interval [5.25 - 3.528, 5.25 + 3.528]

Lower Bound 

(Mean - MARGINOFERROR)

1.722

Upper Bound 

(Mean - MARGINOFERROR)

8.778

 

Related resources

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