Definition of 'Decile'
Deciles are often used to compare different groups of data. For example, a company might use deciles to compare the performance of its sales teams. The company could divide its sales teams into ten groups, and then calculate the average sales for each group. The deciles would show how the sales teams are performing relative to each other.
Deciles can also be used to identify outliers. An outlier is a data point that is significantly different from the rest of the data. Outliers can be caused by a variety of factors, such as data entry errors or unusual events. Deciles can help to identify outliers, which can then be investigated further.
Deciles are a useful tool for understanding and comparing data. They can be used to identify trends, outliers, and to compare different groups of data.
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