To find the location of a specific percentile, software such as Minitab, Python, R, and Excel uses these steps: Arrange the observations in ascending order. Use the formula for percentile location to calculate the position where the percentile value would be located, using the desired percentile...
The above formula returns the IQR as 1.75. As you would have noticed, these values are different from the manually calculated value of IQR as 2.0. In the background, Excel uses the PERCENTILE function to calculate QUARTILE. We have a separate post explaining these two functions, PERCENTILE and...
Using the formula, we can determine the first (lies between the first term and median), second (median), and third quartiles (lies between median and last term). Before the calculation, the dataset should be arranged in ascending order. The formulae to calculate the quartiles of a given ...
The formula for MAPE is given in Equation (11). (11)where is the total number of data points. represents the actual value for data point . represents the predicted (forecasted) value for data point . 6.2 Validation results In this section, we are going to visualise the actual and ...