quintile

n. one of four values in a score distribution that divides it into five equal parts. For example, the first quintile of a distribution is the value below which are the lowest 20% of scores. See quantile.

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Psychology term of the day

January 11th 2025

test marketing

research undertaken to assess consumer reactions to new or altered products. Companies often try to carry out this research discreetly so that competitors are unaware of any potential changes. On the basis of the results, products may be introduced into the general market, introduced after changes, or withdrawn.