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In a survey collecting data about the salaries earned by recent college graduates, Li found that her salary was in the 78thpercentile. Should Li be pleased or upset by this result? Explain

Short Answer

Expert verified

Li should be pleased with her salary.

Step by step solution

01

Definition

In statistics, the percentiles are the partition values. Percentile divides the entire data into100equal parts. The 50thpercentiles denote median and below this value lies 50%of data. Similarly 60thpercentile will have60%of data below it.

02

Explanation

The formula for finding the Kth percentile is:

kthpercentile=k(N+1)100thitem

In the given situation, Li's salary is at 78thpercentile; which means78%of recent college graduates earn less than Li does.22%of recent college graduates earn more than Li does.

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