What is tertile?

A tertile is a statistical term that is used to divide a set of data into three equal parts. It is also known as a third quartile. Tertiles are used to help understand the distribution of data and to identify any patterns or trends that might exist within the data set.

Tertiles are best used when data is normally distributed, meaning that the data falls in a bell-shaped curve around the mean. In such cases, the lower tertile represents the bottom one-third of the data, the middle tertile represents the middle one-third and the upper tertile represents the top one-third of the data.

Tertiles are used in various fields such as finance, medicine, and education, to understand the distribution of data and to make important decisions. For example, in finance, tertiles are used to understand the distribution of returns on investments. Similarly, in medicine, tertiles can be used to understand the distribution of a certain health parameter, such as blood pressure, among a population.