Recall that a percentile gives insight to how data are spread between the smallest and largest values. The pth percentile of a set of data indicates that p% of the data are below that value, and (100 - p)% are above that value. There are two components of the pth percentile: the location within the data and the actual value. The formula for finding the location of the percentile, denoted Lp, follows where p is the percentile and n is the number of observations in the ordered data set. = Lp -(n + 1) 100 The first step in calculating a percentile is to order the data in ascending order. The ordered data are below. Lp 420 There are n = 8 observations in the data. Find the location of the p = 100 20 100 = 19 = 24 27 -(n + 1) 27 28 31 33 38 +1 20th percentile.