Engineering Applications of Statistics
Percentiles are values that divide a dataset into 100 equal parts, indicating the relative standing of a particular value within the overall distribution. They are crucial for understanding how a specific data point compares to others, allowing for an assessment of where it falls in terms of rank or proportion. This concept is essential for interpreting descriptive statistics, as it helps to convey information about central tendency and dispersion by highlighting the distribution of data points.
congrats on reading the definition of Percentiles. now let's actually learn it.