Page 13 - FINAL CFA SLIDES DECEMBER 2018 DAY 3
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LOS 8.f: Calculate and interpret quartiles, Session Unit 2:
quintiles, deciles, and percentiles, p.143 8. Statistical Concepts and Market Returns
Quantile is a value at or below which a stated
proportion of the data in a distribution lies.
• Quartiles —quarters.
• Quintile —fifths.
• Decile —tenths.
• Percentile —into hundredths (per cents).
Example: Quartiles: What is the third quartile for the following (10) distribution of returns?
8%, 10%, 12%, 13%, 15%, 17%, 17%, 18%, 19%, 23%
Answer: The point below which 75% of the observations lie.
