Hey kiddo,
Do you know what a percent is? It’s a way to show how much of something you have compared to a whole. For example, if you have 2 apples and there are 10 apples in total, you have 20% of the apples.
Now, have you heard of a graph called a probability distribution? It’s a way to show how likely different events are to happen. The percent point function helps us figure out what percent of the data falls below a certain value on this graph.
Let’s say we have a probability distribution graph that shows how likely it is for people to be different heights. If we want to know what percent of people are shorter than a certain height, we can use the percent point function to figure it out.
So, let’s say we want to know what percent of people are shorter than 5 feet. We would use the percent point function to find the point on the graph where 5 feet is located. Then we can see what percent of the data falls below that point.
In simpler terms, the percent point function helps us figure out what percentage of data falls below a certain point on a probability distribution graph.