Excel Formula To Calculate Margin Of Error
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Formula For Margin Of Error
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Your email Submit RELATED ARTICLES How to Calculate the Margin of Error for a Sample… Statistics margin of error calculator without population size Essentials For Dummies Statistics For Dummies, 2nd Edition SPSS Statistics for Dummies, 3rd Edition Statistics II for Dummies Load more EducationMathStatisticsHow to Calculate the Margin of https://www.youtube.com/watch?v=siqx4PbqJ6s Error for a Sample Proportion How to Calculate the Margin of Error for a Sample Proportion Related Book Statistics For Dummies, 2nd Edition By Deborah J. Rumsey When you report the results of a statistical survey, you need to include the margin of error. The general formula for the margin of error for http://www.dummies.com/education/math/statistics/how-to-calculate-the-margin-of-error-for-a-sample-proportion/ a sample proportion (if certain conditions are met) is where is the sample proportion, n is the sample size, and z* is the appropriate z*-value for your desired level of confidence (from the following table). z*-Values for Selected (Percentage) Confidence Levels Percentage Confidence z*-Value 80 1.28 90 1.645 95 1.96 98 2.33 99 2.58 Note that these values are taken from the standard normal (Z-) distribution. The area between each z* value and the negative of that z* value is the confidence percentage (approximately). For example, the area between z*=1.28 and z=-1.28 is approximately 0.80. Hence this chart can be expanded to other confidence percentages as well. The chart shows only the confidence percentages most commonly used. Here are the steps for calculating the margin of error for a sample proportion: Find the sample size, n, and the sample proportion. The sample proportion is the number in the sample with the characteristic of interest, divided by n. Mult
visit from the selection below. Home » ExcelBanter forum » Excel Newsgroups » Excel Programming Margin of Error http://www.excelbanter.com/showthread.php?t=286163 Formula Author Name Remember Me? Password Site Map Home Register Authors List http://www.had2know.com/business/compute-margin-of-error.html Today's Posts Search Web Partners Search Forums Show Threads Show Posts Advanced Search Go to Page... Margin of Error Formula « Previous Thread | Next Thread » Thread Tools Display Modes #1 December 24th 03, 12:51 AM posted to microsoft.public.excel.programming Heather Rabbitt external usenet poster margin of Posts: 2 Margin of Error Formula Hi, I'm looking for a formula in excel to give me the maximum and minimum margin of error at the 95% confidence interval for a given percentage and sample size. For example the percentage may be 50% I have a sample size of 16 and using a stat testing program (STATCHCK) I know the margin of margin of error error is +/- 25% so my maximum would be 75% and my minimum would be 25%. My problem is I have over 10,000 numbers to check and I want to automate this in excel. I know there is a data analysis add in excel but not sure if it can be used to solve my problem. Any help with my problem would be greatly appreciated. If you think this should be posted somewhere else please let me know. Thanks in advance, Heather Heather Rabbitt View Public Profile View message headers Find all posts by Heather Rabbitt Find all threads started by Heather Rabbitt Ads #2 December 24th 03, 01:37 AM posted to microsoft.public.excel.programming Tom Ogilvy external usenet poster Posts: 27,285 Margin of Error Formula the standard error for your sample percentage is = sqrt(((100-percentage)*percentage)/n-1) assume 50% is in A1, 16 in B1 = sqrt(((100%-A1)*A1)/(B1-1)) This comes out to 12.91% assuming your percentage is normally distributed, then a 95% confidence interval says you should go +/- 1.96 standard errors from the mean 50% - (1.96 * 12.91%) as the lower bound and 50% + (1.96
to Compute the Margin of Error Margin of Error Calculator Enter the sample size n. Enter a value between 0 and 1 for p, or if p is unknown, use p = 0.5. Enter the population size N, or leave blank if the total population is large. npN In statistics, the margin of error represents the approximate amount of variance you can expect in polls and surveys. For example, suppose you conduct a poll that indicates 40% of people will vote 'no' on a proposition, and the margin of error is 3%. This means that if you were to conduct the same poll with another random sample of similar size, you could expect 37%-43% of the respondents in the second survey to also vote 'no.' The margin of error tells you how accurate poll results are; the smaller the margin of error, the greater the accuracy. There are two main formulas for calculating the margin of error, each explained below. In each formula, the sample size is denoted by n, the proportion of people responding a certain way is p, and the size of the total population is N. For some margin of error formulas, you do not need to know the value of N. 95% Confidence Interval Margin of Error If you have a sample that is drawn from a very large population (N is larger than 1,000,000), then you can compute the "95% confidence interval margin of error" with the formula MOE = (1.96)sqrt[p(1-p)/n]. If you perform 100 surveys with the same sample size drawn from the same poplulation, then 95% of the time you can expect the margin of error to fall within the bound above. As you can see, N does not factor into this equation for margin of error. If the total population is large enough, only the size of the random sample matters, not the total population. If the survey has multiple questions and there are several possible values for p, pick the value that is closest to 0.5. Here is an example: In a random survey of 1,000 Texans, 48% of the respondents liked chocolate ice c