The following 10 observations are a sample drawn from a normal population: 25, 20, 18, –5, 35, 21, –11, 8, 20, and 9. The fourth quintile (80th percentile) of the sample is closest to:
a) 8
b) 24
c) 21
In order:
–11, –5, 8, 9, 18, 20, 20, 21, 25, 35
Answer is C) 21, and cite that it’s the 8th number in the series.
I thought the formula was (1+n) * y/100, which would equate to 8.8. (25-21)*.8 = 3.2, so 24.2 would be correct…?
You got this from 2014 Mock. hehe
I had the same quesiton as yours.
I don’t know if I am correct, but that equation only applies when the numbers are odd.
Please correct me if I am wrong.
You could be right, S2000?
You could be right, S2000?
I actually just posted this exact question and found the below thread. If its a sample the formula is n(y/100) and for a population n+1(y/100).
http://www.analystforum.com/forums/cfa-forums/cfa-level-i-forum/91249746
got it.
Thanks for the info 