Percentile or 60% of the quotes

Hi All,

I have list of quotes and actual discount and threshold for the same ( refer attachment)

Quotes      Actual Disc      Threshold      Quarter
1                 97%                  55%               14-Q1
2                 76%                  55%               14-Q1
3                 25%                  55%               14-Q1
4                  25%                 55%               14-Q1
5                  25%                60%               14-Q2
6                  25%               60%                14-Q2
7                 45%              60%                         14-Q2
8                 25%             60%                         14-Q2
9               35%             60%                         14-Q2
10               25%             60%                          14-Q2
11               65%           60%                         14-Q2
12              25%                  60%                        14-Q2
13             25%                 60%                        14-Q2


I would like to calculate the actual discount availed for 60% of quotes.

I have used the percentile formula mentioned below.

=PERCENTILE(B3:B15,0.6) and the answer is 27%
Does it mean that 60% of the quotes are availing discount at 27% or is there any other  way to calculate it?

Basically i wanna see if 60% of the quotes are below threshold.

Percentile-Example.xlsx
Ganesh VijaykumarAsked:
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Phillip BurtonConnect With a Mentor Director, Practice Manager and Computing ConsultantCommented:
Yes, that's right - see tthis article for confirmation.

There are alternative ways to calculate it in Excel 2010 - see PERCENTILE.EXC
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Ganesh VijaykumarAuthor Commented:
Thanks for the response!
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