The average weekly earning in dollars for various industries

The average weekly earning in dollars for various industries are listed below. Find the percentile rank of each value. Round to the nearest whole percentile.

710, 742, 781, 523, 527, 614, 665

The percentile rank of the value of 781 is ?.

Solution

Arranging the data in the ascending order of magnitude

523 , 527 , 614 , 665 , 710 , 742 , 781

i = [ P/100 ] * n

P₁= [ 1/100 ] * 7 = 0.07 , i.e. 1 + 0.07 = 1.07 , the first percentile value is located in the first value i.e. 523

P₂ = [ 2/100 ] * 7 = 0.14 , i.e. 1 + 0.14 = 1.14 , the second percentile value is located in the first value i.e. 523

P₃ = [ 3/100 ] * 7 = 0.21, i.e. 1 + 0.21 = 1.21 , the third percentile value is located in the first value i.e. 523

P₄ = [ 4/100 ] * 7 = 0.28, i.e. 1 + 0.28 = 1.28 , the fourth percentile value is located in the first value i.e. 523

P₅ = [ 5/100 ] * 7 = 0.35, i.e. 1+0.35 = 1.35 , the fifth percentile value is located in the first value i.e. 523

P₆ = [ 6/100 ] * 7 = 0.42, i.e. 1+0.42 = 1.42 , the sixth percentile value is located in the first value i.e. 523

P₇ = [ 7/100 ] * 7 = 0.01, i.e. 1 + 0.01 = 1.01 , the seventh percentile value is located in the first value i.e. 523

The percentile value of 781 is 523.