The formula to calculate the percentile value is:
\[ \text{PV} = \left( \frac{P}{N} \right) \times 100 \]
Where:
A percentile value is a measure used in statistics indicating the value below which a given percentage of observations in a group falls. For example, the 20th percentile is the value below which 20% of the observations may be found. It is often used in a variety of fields to provide a relative standing of an observed value within a dataset.
Let's assume the following values:
Step 1: Divide the position by the total number of data points:
\[ \frac{5}{20} = 0.25 \]
Step 2: Multiply by 100 to convert to a percentage:
\[ \text{PV} = 0.25 \times 100 = 25\% \]
Therefore, the percentile value is 25%.
Let's assume the following values:
Step 1: Divide the position by the total number of data points:
\[ \frac{15}{50} = 0.3 \]
Step 2: Multiply by 100 to convert to a percentage:
\[ \text{PV} = 0.3 \times 100 = 30\% \]
Therefore, the percentile value is 30%.
