Descriptive statistics, percentiles











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I am stuck in a statistics assignment, and would really appreciate some qualified help.



We have been given a data set and are then asked to find the 10% with the lowest rate of profit, in order to decide what Profit rate is the maximum in order to be considered for a program.



the data has:
Mean = 3,61
St. dev. = 8,38



I am thinking that i need to find the 10th percentile, and if i run the percentile function in excel it returns -4,71.



However I tried to run the numbers by hand using the z-score.



where z = -1,28



z=(x-μ)/σ


Solving for x



x= μ + z σ

x=3,61+(-1,28*8,38)=-7,116


My question is which of the two methods is the right one? if any at all.



I am thoroughly confused at this point, hope someone has the time to help.



Thank you



This is the assignment btw:




"The Danish government introduces a program for economic growth and will
help the 10 percent of the rms with the lowest rate of prot. What rate
of prot is the maximum in order to be considered for the program given
the mean and standard deviation found above and assuming that the data
is normally distributed?"











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    up vote
    1
    down vote

    favorite












    I am stuck in a statistics assignment, and would really appreciate some qualified help.



    We have been given a data set and are then asked to find the 10% with the lowest rate of profit, in order to decide what Profit rate is the maximum in order to be considered for a program.



    the data has:
    Mean = 3,61
    St. dev. = 8,38



    I am thinking that i need to find the 10th percentile, and if i run the percentile function in excel it returns -4,71.



    However I tried to run the numbers by hand using the z-score.



    where z = -1,28



    z=(x-μ)/σ


    Solving for x



    x= μ + z σ

    x=3,61+(-1,28*8,38)=-7,116


    My question is which of the two methods is the right one? if any at all.



    I am thoroughly confused at this point, hope someone has the time to help.



    Thank you



    This is the assignment btw:




    "The Danish government introduces a program for economic growth and will
    help the 10 percent of the rms with the lowest rate of prot. What rate
    of prot is the maximum in order to be considered for the program given
    the mean and standard deviation found above and assuming that the data
    is normally distributed?"











    share|improve this question
























      up vote
      1
      down vote

      favorite









      up vote
      1
      down vote

      favorite











      I am stuck in a statistics assignment, and would really appreciate some qualified help.



      We have been given a data set and are then asked to find the 10% with the lowest rate of profit, in order to decide what Profit rate is the maximum in order to be considered for a program.



      the data has:
      Mean = 3,61
      St. dev. = 8,38



      I am thinking that i need to find the 10th percentile, and if i run the percentile function in excel it returns -4,71.



      However I tried to run the numbers by hand using the z-score.



      where z = -1,28



      z=(x-μ)/σ


      Solving for x



      x= μ + z σ

      x=3,61+(-1,28*8,38)=-7,116


      My question is which of the two methods is the right one? if any at all.



      I am thoroughly confused at this point, hope someone has the time to help.



      Thank you



      This is the assignment btw:




      "The Danish government introduces a program for economic growth and will
      help the 10 percent of the rms with the lowest rate of prot. What rate
      of prot is the maximum in order to be considered for the program given
      the mean and standard deviation found above and assuming that the data
      is normally distributed?"











      share|improve this question













      I am stuck in a statistics assignment, and would really appreciate some qualified help.



      We have been given a data set and are then asked to find the 10% with the lowest rate of profit, in order to decide what Profit rate is the maximum in order to be considered for a program.



      the data has:
      Mean = 3,61
      St. dev. = 8,38



      I am thinking that i need to find the 10th percentile, and if i run the percentile function in excel it returns -4,71.



      However I tried to run the numbers by hand using the z-score.



      where z = -1,28



      z=(x-μ)/σ


      Solving for x



      x= μ + z σ

      x=3,61+(-1,28*8,38)=-7,116


      My question is which of the two methods is the right one? if any at all.



      I am thoroughly confused at this point, hope someone has the time to help.



      Thank you



      This is the assignment btw:




      "The Danish government introduces a program for economic growth and will
      help the 10 percent of the rms with the lowest rate of prot. What rate
      of prot is the maximum in order to be considered for the program given
      the mean and standard deviation found above and assuming that the data
      is normally distributed?"








      excel statistics data-analysis






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      asked Nov 10 at 22:07









      Julie Bang

      2215




      2215
























          1 Answer
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          The excel formula is giving the actual, empirical 10th percentile value of your sample



          If the data you have includes all possible instances of whatever you’re trying to measure, then go ahead and use that.



          If you’re sampling from a population and your sample size is small, use a t distribution or increase your sample size. If your sample size is healthy and your data are normally distributed, use z scores.



          Short story is the different outcomes suggest the data you’ve supplied are not normally distributed.






          share|improve this answer























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            1 Answer
            1






            active

            oldest

            votes








            1 Answer
            1






            active

            oldest

            votes









            active

            oldest

            votes






            active

            oldest

            votes








            up vote
            1
            down vote



            accepted










            The excel formula is giving the actual, empirical 10th percentile value of your sample



            If the data you have includes all possible instances of whatever you’re trying to measure, then go ahead and use that.



            If you’re sampling from a population and your sample size is small, use a t distribution or increase your sample size. If your sample size is healthy and your data are normally distributed, use z scores.



            Short story is the different outcomes suggest the data you’ve supplied are not normally distributed.






            share|improve this answer



























              up vote
              1
              down vote



              accepted










              The excel formula is giving the actual, empirical 10th percentile value of your sample



              If the data you have includes all possible instances of whatever you’re trying to measure, then go ahead and use that.



              If you’re sampling from a population and your sample size is small, use a t distribution or increase your sample size. If your sample size is healthy and your data are normally distributed, use z scores.



              Short story is the different outcomes suggest the data you’ve supplied are not normally distributed.






              share|improve this answer

























                up vote
                1
                down vote



                accepted







                up vote
                1
                down vote



                accepted






                The excel formula is giving the actual, empirical 10th percentile value of your sample



                If the data you have includes all possible instances of whatever you’re trying to measure, then go ahead and use that.



                If you’re sampling from a population and your sample size is small, use a t distribution or increase your sample size. If your sample size is healthy and your data are normally distributed, use z scores.



                Short story is the different outcomes suggest the data you’ve supplied are not normally distributed.






                share|improve this answer














                The excel formula is giving the actual, empirical 10th percentile value of your sample



                If the data you have includes all possible instances of whatever you’re trying to measure, then go ahead and use that.



                If you’re sampling from a population and your sample size is small, use a t distribution or increase your sample size. If your sample size is healthy and your data are normally distributed, use z scores.



                Short story is the different outcomes suggest the data you’ve supplied are not normally distributed.







                share|improve this answer














                share|improve this answer



                share|improve this answer








                edited Nov 11 at 15:54

























                answered Nov 10 at 22:17









                John H

                1,219315




                1,219315






























                     

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