Excel PERCENTILE Function:
The Percentile Function in Excel will return the k-th percentile of values in a range. This implies that the value below the k% of the data values fall, while using the Percentile Function. This is for a Supplied range of values also for the supplied k.
The Percentile Function in Excel calculates the k-th percentile for a data set in Excel. The Percentile Excel function can be used in creating or building a source of acceptance. For an instance, let’s consider an example, suppose you need to take a decision where you have to examine the candidates who have scored above the 90th percentile.
The Percentile Function Excel can be used for determining the 90th and the 80th percentile. A percentile here is a value. It is described as the place where a defined percentage of value in a data set falls.
Calculate the kth percentile
Return value of the Function is:
The value obtained from the Calculated percentile for k
The Syntax of the Function is:
=PERCENTILE (array, k)
To find where the Function Arguments are:
array – Data values.
k – Number representing kth percentile.
Important: What is the Formula for Percentile?
The formula used for calculating percentile ranks is Uncomplicated and comparatively easy to decipher. You can straightforward calculate the scores by just calculating the Percentile Rank. (The Percent Rank v/s Percentile: Percentile Rank is the rank which stands for the scores in the distribution). The formula for the Percentile Rank is: R=P/ 100 (N+1).
Here, R stands for the rank order of the score.
The Percentile Function will return the k-th percentile of values in a range. It calculates the k-th percentile for a data set in Excel. A percentile here is a value. It is described as the place where a defined percentage of value in a data set falls.
You must know how to calculate Percentile in Excel. If a percentile is calculated with .5 ask stands for 50% i.e. percentage of values are less than or equal to the result obtained after the Calculation. And if a percentile is calculated with k = .9 where k stands for 90% i.e. percentage of values are less than or supposedly equal to the calculated result.
Well, to use PERCENTILE Function in Excel, you need to provide a range of values and a number in between 0 and 1. This will stand for the argument “k”, which represents percent.
How does Excel Calculate Percentile?
For an instance, let’s consider an example of the Percentile Function:
= PERCENTILE(range,.5)// 50th Percentile
= PERCENTILE(range,.9)// 90th Percentile
Specify k as a percent which uses the % character
= PERCENTILE(range,.7)// 70th Percentile
The Percentile function Excel will return the value which is greater than or equal to the specified Percentile.
In the example, the formula in G5 is:
= PERCENTILE(scores, E5)
Here, scores stand for the named range C5:C14
Important: It is declared by Microsoft that Percentile is a Compatibility Function. And there is a new Function for the same now replaced by the Percentile.inc Function.
k can be provided as a decimal (.6) or a percentage (60%)
k must be between 0 and 1, if not, the PERCENTILE will return the #NUM! error.
This can be termed as the Percentile Function Errors:
Also, when the percentiles will fall between the values, PERCENTILE will interpose and return an intermediate value soon afterward.
Important: The Percentile Function has been replaced by one or more new Functions. These functions propose enhanced accuracy in results. And the names of these already reflect on their usage. The quartile function is made available till date. But this used to be helpful for the Backward Compatibility. Since there might be no availability of the percentile function in Excel in Future. Therefore, people should not rely on these Functions anymore.
The percentiles and quartiles excel are easy and hence should be known to all.
In the earlier article, you read about the Degree Symbol in Excel. You can check the Degree symbol in Excel now if you haven’t checked it yet.