I am reading a document issued by UK Gov about minimum salary for work visa, it is using word percentile, which I don't understand, Could anyone explain what would be the 50th or 75th percentile IF,
10th percentile = 24,000
25th percentile = 31,100
50th percentile = ?
75th percentile = ?
Here is the exact wording of the document,
increasing the Tier 2 minimum salaries per occupation for experienced workers from the 25th percentile to the 50th or 75th percentiles, or other appropriate measure;
Reference - Page 6, Point 1.5 - II.
I am interested in job code 2136, you can see table in end with percentiles.
The $k-th$ percentile in a distribution I a value larger than that of $k$% of the population.
As an example, the $40$% percentile is a value ( a salary in this case ) higher than the salaries of $40$% of the population. The information you gave is not enough to determine the $50 th$ and $75th$ percentile.
As an example, if half the people make 30,000 pounds or less, then the number 30,000 is the 50-th percentile--meaning that 50% of the people make that amount or less. Hope you make it to Piccadilly!