Intro to Probability for Business
Percentile rank is a statistical measure that indicates the relative standing of a value within a data set by showing the percentage of scores that fall below it. It helps in understanding how a particular score compares to the rest of the distribution, particularly in the context of normally distributed data, where it can be linked to standard normal distribution and Z-scores for more precise analysis.
congrats on reading the definition of percentile rank. now let's actually learn it.