Quantile
From Open Risk Manual
Revision as of 14:57, 18 October 2021 by Wiki admin (talk | contribs)
Definition
The Quantile (more generaly the quantile function) associated with a probability distribution of a random variable is the value of the Random Variable such that the probability of the variable being less than or equal to that value equals a given probability
Formula
For a distribution , the quantile is the greatest element such that