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Essentials of Business Analytics 1st Edition by Jeffrey Camm,James Cochran,Michael Fry,Jeffrey Ohlmann ,David Anderson
Edition 1ISBN: 978-1285187273Essentials of Business Analytics 1st Edition by Jeffrey Camm,James Cochran,Michael Fry,Jeffrey Ohlmann ,David Anderson
Edition 1ISBN: 978-1285187273 Exercise 1
Consider a sample with data values of 27, 25, 20, 15, 30, 34, 28, and 25. Compute the 20th, 25th, 65th, and 75th percentiles.
Explanation
Verified
Verified
Percentile is defined as that value of a variable at a point where the specific percentage of data sets is below that value.It is possible to find the percentiles of a given dataset by excel or manually. As the data set is smaller, manual approach is followed. Sort the given data in ascending order:
The formula to calculate m percentile of the dataset of length n :
To calculate 20 th percentile:
Thus, 20th percentile is the second value
in the sorted data.To calculate 25 th percentile:
Thus, 25 th percentile is
.
To calculate 65 th percentile:
Thus, 65 th percentile is
.
To calculate 75 th percentile:
Thus, 75 th percentile is
.
The formula to calculate m percentile of the dataset of length n : To calculate 20 th percentile: Thus, 20th percentile is the second value in the sorted data.To calculate 25 th percentile: Thus, 25 th percentile is .To calculate 65 th percentile:
Thus, 65 th percentile is .To calculate 75 th percentile:
Thus, 75 th percentile is .
Essentials of Business Analytics 1st Edition by Jeffrey Camm,James Cochran,Michael Fry,Jeffrey Ohlmann ,David Anderson
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