Ambiguity between methods of calculating quartiles. Which method is more correct?
I am having confusion between two methods of calculating the first quartiles.
Let me explain by an example:
The method that I know:
To find the first quartile in the list above I first find the median = that is the 3rd element.
Now I split the list in the following fashion:
Now we take the list and we find the media between them that is
So according to my calculation the first quartile
The nearest rank method
So for the above list the percentile or the first quartile will be
which is 2nd position.
So which is correct or ? Or does chosing any of them is fine ?
If I am correct in my original calculation why am I getting a difference between the 2 methods.