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

Related resources

• CONFIDENCE.T
• CONFIDENCE.NORM