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1:47
YouTube
One Minute Economics
Percentiles (Centiles, Percentile Rank), Deciles and Quartiles Defined & Explained in One Minute
First and foremost, please don't confuse the term "percentile" with the term "percentage" and secondly, it's important to understand that percentiles come in handy when other methods of understanding data are sub-optimal. Today, I've defined as well as explained percentiles (also called deciles, although some prefer the term "percentile rank ...
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