STEYX Excel Formula

Author Zaheer    Category Formulas     Tags ,

Excel is the Microsoft program that is frequently used by most people today. There are so many reasons behind why it is widely used. But usually the main reasons why it is utilized frequently is its easy storing and managing of data, an excellent tool in calculating data, very functional in sorting and analyzing data and many others. When it comes to computation, users must be familiar with the different functions included in the program. It is because through its numerous functions, correct and accurate answers are obtained. One of the functions that users must be familiar with is the STEYX function.

Description of STEYX Function

The function is utilized in solving for  standard error of predicted value of y for every x within the regression, wherein, standard error is the measurement of the quantity of error within the y prediction of each x value.

Formula for STEYX Function

Since the program works with its formulas, it is necessary to use a certain formula in order to get accurate results. For STEYX function the formula to use should be:

=STEYX (known_y’s, known_x’s)

Wherein:

  • known_y’s – is the range or array of dependent points of data.
  • known_x’s – is the range or array of independent points of data.

Important Facts to Think About

When using STEYX function, users must be familiar with the different key indicators they need to consider. This is to avoid errors and to get accurate and correct answer and result. So in STEYX function, below are the details that users should think about:

  • The arguments should be in the form of names, numbers, ranges or reference containing integers.
  • Once the arguments on the reference or range have logical values, text or blank cells, they are neglected. But cells with zero value are included within the computation.
  • Once the value of known_x’s and known_y’s are blank or with dissimilar points of data, error is obtained.

STEYX Function Example

Going through an example is a great way to easily learn and understand a certain function. The written example below for STEYX function is a great way to learn and gain familiarity with the function.

Calculate for standard errorof the given y and x values. The value of x is 2, 4, 6, 8 and 10 while the y value has 3, 5, 7, 9 and 1

To use Microsoft Excel to compute for standard error of its above given values, below are the procedures to follow:

  • Open a new Excel worksheet.
  • In a blank worksheet, enter the given data from the problem. For instance, place the value for x in column A and the value for y in column B.
  • After placing all the given points, click an empty cell on the worksheet. The chosen cell is where the answer will be displayed.
  • In the blank cell, enter the formula of STEYX Function, which is “=STEYX (known_y’s, known_x’s)”.
  • To enter the needed arguments, simply click the cells that contain needed values. The syntax to appear on the formula bar must be “=STEYX (B1:B5, A1:A5)”.
  • After entering the needed data, press “Enter”.
  • Automatically, the answer will appear and it is 3.651484.

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