Question
Download Solution PDF7th decile is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDF- In statistics, percentiles are a way to divide a dataset into hundred equal parts based on their relative rank or position. Each percentile represents a specific percentage of the data below it. For example, the 70th percentile signifies that 70% of the observations in the dataset are less than or equal to the value at that percentile.
- Deciles, on the other hand, divide the dataset into ten equal parts. Each decile represents a specific range of percentiles. The 7th decile corresponds to the range of percentiles from the 60th to the 70th.
- When we say that the 7th decile is equivalent to the 70th percentile, it means that the value at the 70th percentile acts as the boundary value between the 6th and 7th deciles. This boundary value represents the value below which 70% of the data falls.
- By utilizing percentiles and deciles, we can analyze the distribution of data, identify specific ranges of values, and determine the relative position of individual observations within the dataset in a more formal and structured manner.
Last updated on Jun 25, 2025
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