Bharti Singla
Senior Member
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Chapter-3, Loss distributions
While using method of percentiles to estimate the parameters, the core reading (referring qus 5, Sept. 2009,ifoa) uses formulae:
Q1= (n+2)/4 and Q3= (3n+2)/4
Is it feasible to use the alternative formulae i.e. Q1= (n+1)/4 and Q3= 3(n+1)/4 ?
If not, then why?
Which formulae we are expected to use in exams?
Chapter-3, Loss distributions
While using method of percentiles to estimate the parameters, the core reading (referring qus 5, Sept. 2009,ifoa) uses formulae:
Q1= (n+2)/4 and Q3= (3n+2)/4
Is it feasible to use the alternative formulae i.e. Q1= (n+1)/4 and Q3= 3(n+1)/4 ?
If not, then why?
Which formulae we are expected to use in exams?