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• Formula: They use the formula Ly = (n + 1)(y) / (100) to determine the position of the yth quintile (where y represents the percentile, in this case 60 for the third quintile).
• Calculation: Plugging in the values (n = 13 for the number of data points and y = 60 for the percentile), they get: L(60) = (14)(60) / (100) = 8.4.
• Interpretation: This value (8.4) doesn’t directly correspond to a specific data point because it falls between the 8th and 9th positions (13.6% and 13.9%) in the ordered data set.

 

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