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A percentile is a measure used in statistics to indicate the value below which a given percentage of observations fall. For example, the 50th percentile, also known as the median, is the value that separates the higher half from the lower half of the data set. Understanding percentiles helps in interpreting the distribution of data and identifying relative standings within a dataset.

The median is a specific type of percentile that represents the middle value of a dataset when it is ordered from least to greatest. If there is an even number of observations, the median is calculated as the average of the two middle numbers. It is a robust measure of central tendency, less affected by outliers than the mean, making it useful for skewed distributions.

Interpreting percentiles involves understanding what the percentile value signifies in the context of the data. For instance, if a wait time is at the 50th percentile, it means that 50% of the wait times are less than or equal to this value. This interpretation provides insights into the typical experience of individuals in the dataset, allowing for better decision-making and understanding of service efficiency.