economic term for values that divide the whole set of observations into 100 equal parts
Answers
Answer:
Difference Percentiles
Answer:
Basis of Difference Percentiles
Definition These are the values of a given set of data that divide the whole data or observations into 100 equal parts.
Number of equal parts created 100
Number of dividing points 99
Formula P1=(N+1100)th item
Answer : Percentile
Explanation :
A percentile (or a centile) is a measure used in statistics indicating the value below which a given percentage of observations in a group of observations fall. For example, the 20th percentile is the value (or score) below which 20% of the observations may be found.
The term percentile and the related term percentile rank are often used in the reporting of scores from norm-referenced tests. For example, if a score is at the 86th percentile, where 86 is the percentile rank, it is equal to the value below which 86% of the observations may be found. In contrast, if it is in the 86th percentile, the score is at or below the value of which 86% of the observations may be found. Every score is in the 100th percentile.
The 25th percentile is also known as the first quartile (Q1), the 50th percentile as the median or second quartile (Q2), and the 75th percentile as the third quartile (Q3). In general, percentiles and quartiles are specific types of quantiles.
Percentile Example: Assume that a student has 80th percentile on a test of 150. By this, we can understand the term percentile better and know that by scoring 150 in the exam, a student has beaten 80% of the remaining class in the exam.
- What is the Percentile Formula?
The percentile formula is used when we need to compare the exact values or numbers over the other numbers from the given data i.e. the accuracy of the number. Often percentile and percentage are taken as one but both are different concepts. A percentage is where the fraction is considered as one term while percentile is the value below the percentage found from the given data. In our day-to-day life, percentile formulas are usually helpful in finding the test scores or biometric measurements. Hence, the percentile formula is:
Percentile = (n/N) × 100
Or
The percentile of x is the ratio of the number of values below x to the total number of values multiplied by 100. i.e., the percentile formula is
Percentile = (Number of Values Below “x” / Total Number of Values) × 100
Percentile Formula :
P = (n/N) × 100
Where,
n = ordinal rank of the given value or value below the number
N = number of values in the data set
P = percentile
Or
Percentile = (Number of Values Below “x” / Total Number of Values) × 100
To know more about the concept please go through the links :\
https://brainly.in/question/23074421
https://brainly.in/question/5395012
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