- #1
Saladsamurai
- 3,020
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Homework Statement
I am reading a definition a quantile plot and a quantile and I am getting a little confused. It says:
A quantile, q(f), is a value for which a specified fraction f of the data values is less than or equal to q(f).
Ok, I get that. Then it says:
A quantile plot simply plots the data values on the vertical axis against the fraction of observations exceeded by the data value.
Get that too; but then it says
I don't get that part. What exactly is this 'order of observations?'For theoretical purposes this fraction is computed by
[tex]f_i=\frac{i - \frac{3}{8}}{n+\frac{1}{4}}[/tex]
where i is the order of the observations when they are ranked low to high.
I am interpreting it as the following:
If i = 4, we are finding the fraction f4, which is the fraction of data values that are less than or equal to the value of the 4th observation.
Is that correct?
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