Statistics Dictionary

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Assume that the elements in a data set are rank ordered from the smallest to the largest. The values that divide a rank-ordered set of elements into 100 equal parts are called percentiles

An element having a percentile rank of Pi would have a greater value than i percent of all the elements in the set. Thus, the observation at the 50th percentile would be denoted P50, and it would be greater than 50 percent of the observations in the set. An observation at the 50th percentile would correspond to the median value in the set.

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