Timely insight needed to create a formula to calculate the percent change between two estimates that also should consider the margin of error for each estimate. I am told that the estimates are for two non-overlapping time periods.
The MS Excel 2016 worksheet include the following seven columns;
Confidence Level: 90%
Current Estimate: 79,201
Margin of Error_Current Estimate: 3230
Standard Error_Current Estimate: 1963.53 (Margin of Error_Current Estimate/1.645)
Prior Estimate: 55,055
Margin of Error_Prior Estimate: 2714
Standard Error_Prior Estimate: 1649.85 (Margin of Error_Current Estimate/1.645)
Usually, I will calculate the Percent Change between two numbers as (Current Estimate - Prior Estimate)/Prior Estimate or 44%
But, for this case, it appears that I am dealing more with statistics and sampling. Therefore, it appears that I need to incorporate the standard of errors for each estimate. In essence, standardizing each estimate prior to calculating a percent change between the two estimates from non-overlapping time periods.
If so, any insight as to a formula within MS Excel 2016 that will calculate the percent change in such a scenario?
The MS Excel 2016 worksheet include the following seven columns;
Confidence Level: 90%
Current Estimate: 79,201
Margin of Error_Current Estimate: 3230
Standard Error_Current Estimate: 1963.53 (Margin of Error_Current Estimate/1.645)
Prior Estimate: 55,055
Margin of Error_Prior Estimate: 2714
Standard Error_Prior Estimate: 1649.85 (Margin of Error_Current Estimate/1.645)
Usually, I will calculate the Percent Change between two numbers as (Current Estimate - Prior Estimate)/Prior Estimate or 44%
But, for this case, it appears that I am dealing more with statistics and sampling. Therefore, it appears that I need to incorporate the standard of errors for each estimate. In essence, standardizing each estimate prior to calculating a percent change between the two estimates from non-overlapping time periods.
If so, any insight as to a formula within MS Excel 2016 that will calculate the percent change in such a scenario?