What is Decile?
A decile is a quantitative method of dividing data into 10 equal parts. Suppose there is a list of numbers, then the data in the list can be put in order from smallest to largest, and then split into 10 groups with an equal number of numbers in each group. This method is often used in finance and economics studies to help understand and analyze data.
Deciles are different from percentiles, and quintiles quartiles, which divide data into 100 parts, 4 parts, and 5 parts respectively.
Definition of Decile
Splitting a group of data into 10 equal parts is defined as a decile. There are 9 points to divide the data and make sections that each represent 1/10th of the whole. Decile helps arrange a large amount of data in either ascending or descending order.
This arrangement of data is done on a scale of 1 to 10, where each step represents an increase of 10 percentage points.
Decile – Definition, Formula, Rank, Examples
Decile is a statistical measure that divides a dataset into ten equal parts, and each part contains 10% of the data. It is different from percentage as in percentage there are 100 parts. In this article, we will learn in detail about what is decile, the formulas of decile (grouped data and ungrouped data)
Table of Content
- What is Decile?
- Definition of Decile
- Formula of Decile
- Decile Formula for Ungrouped Data
- Decile Formula for Grouped Data
- Decile Class Rank
- How to Calculate Decile?
- Examples of Decile
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