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Definition of 'Decile'

A decile is a statistical term that refers to one of the ten equal parts into which a distribution can be divided. The deciles are ordered from smallest to largest, and each decile represents 10% of the data. For example, the first decile would represent the bottom 10% of the data, the second decile would represent the next 10% of the data, and so on.

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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