Creating Standard Error function with Excel LAMBDA
LAMBDA is available in Excel for Microsoft 365 and Excel for the Web. LAMBDA allows users to implement custom Excel formulae without resorting to VBA macros. LAMBDA essentially keeps Excel within Excel. This blog build various reusable statistical features and inference functions using LAMBDA. For a start, we will implement the Standard Error for a sample mean. Firstly the Standard Error for a sample mean is defined as: The syntax for LAMBDA is =LAMBDA([parameter1, parameter2, …,] calculation) So the LAMBDA function implementation would be =LAMBDA(array, STDEV.S(array)/SQRT(COUNT(array)) ) The array is the input parameter or variable, while the STDEV.S(array)/SQRT(COUNT(array)) part is the standard error calculation. To create this LAMBDA as a reusable function: Open Excel > Formulas > Name Manager In the Name Manager dialog, click New Enter: Name: dcrStErr Comments: Returns the standard error of a sample mean. Refers to: =LAMBDA(array, STDEV.S(array)/SQRT(COUNT(array))) Cli