Determine+the+percentile+indicating+the+bottom+ranking+20%.+in+other+words,+what+is+the+dollar+number+that+defines+where+the+lowes

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Determine+the+percentile+indicating+the+bottom+ranking+20%.+in+other+words,+what+is+the+dollar+number+that+defines+where+the+lowest+values+fall.

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Orla Orla 1 month 2022-12-27T00:01:46+00:00 1 Answer 0 views 0

Answer ( 1 )

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    2022-12-27T00:03:01+00:00
    The dollar number that defines where the lowest values falls is
    20% percentile value =$20
    This is further explained below.

    What is the dollar number that defines where the lowest value falls?

    Generally,  Now we need to determine the 20th percentile ($20). It indicates that we need to locate a dollar amount that marks the point at which the 20 % data has a value lower than that number.
    i=(p/100)*n
    Where i is the position of p^th
    percentile when the data is presented in ascending order.
    i=20/100*50
    i=1000/100
    i=10
    Therefore
    n=50
    p=20
    In conclusion, the 10th position for given data is 20,
    Therefore, 20% percentile value =$20
    Read more about percentile
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