Rank the observations from lowest to highest and divide the ranked distribution into equal size sections with each section equal to the desired percentage of the total observations. i.e.
Quantiles - Divide the data into four sections with each section containing 25% of the data.
Quintile- Divide the data into five sections with each section containing 20% of the data
Decile - Divide the data into 10 sections with each section containing 10% of the data.
Position of the observation at a given percentile (y), with n data points sorted in ascending order is:
Ly=(n+1)(y)/100
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