Advanced Excel Steyx Formula

The Excel STEYX function finds the standard error of the predicted y-value for each x in the regression.

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Description of Steyx Formula:

The standard error is a measure of the amount of error in the prediction of y for an individual x. The STEYX (known_y's, known_x's) function returns the standard error of Y given X for a least-squares linear regression line that is used to predict y values from x values. If you call the two data arrays X's and Y's, earlier versions of Excel used a single pass through the data to compute the sum of squares of X's, the sum of squares of Y's, the sum of X's, the sum of Y's, the sum of XY's, and the count of the number of observations in each array. These quantities were then combined into the computational formula that is provided in the Help file in earlier versions of Excel. Replacing a one-tailed approach by a two-tailed approach guarantees better numeric performance of STEYX in Excel 2003 and in later versions of Excel. The results in Excel 2003 and in later versions of Excel will never be less accurate than the results in earlier versions.