What is the difference between decile and quantile?

Definitions

decile

- Referring to a statistical division of a population into ten equal parts based on a particular variable.

- Describing the ranking of an individual or group within a population based on a specific characteristic.

- Talking about a method of analyzing data by dividing it into ten equal parts.

quantile

- Referring to a statistical division of a population into equal parts based on a particular variable.

- Describing the ranking of an individual or group within a population based on a specific characteristic.

- Talking about a method of analyzing data by dividing it into equal parts.

List of Similarities

• 1. Both decile and quantile are statistical terms used to divide a population into equal parts based on a particular variable.
• 2. Both can be used to rank individuals or groups within a population based on a specific characteristic.
• 3. Both are methods of analyzing data by dividing it into equal parts.

What is the difference?

• 1. Division: Decile divides a population into ten equal parts, while quantile can divide a population into any number of equal parts.
• 2. Numbering: Decile uses numbers 1-10 to label each division, while quantile uses percentages or fractions to label each division.
• 3. Usage: Decile is more commonly used in social sciences, while quantile is more commonly used in natural sciences.
• 4. Precision: Quantile is more precise than decile since it can divide a population into any number of equal parts.
• 5. Application: Decile is often used to analyze income distribution, while quantile is often used to analyze data sets with a large number of observations.

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Remember this!

Decile and quantile are statistical terms used to divide a population into equal parts based on a particular variable. While both terms are similar in their purpose and usage, the main difference between them is the number of divisions and the labeling system used. Decile divides a population into ten equal parts, while quantile can divide a population into any number of equal parts using percentages or fractions to label each division.