What Is a Quartile?

Example and How It Works. A quartile is a statistical measure that divides a dataset into four equal parts. For example, if a dataset contains 100 observations, the first quartile would be the 25th observation, the second quartile would be the 50th observation, the third quartile would be the 75th observation, and the fourth quartile … Read more

What Is an Implied Warranty?

An implied warranty is a legal obligation imposed on a seller of goods, in which the seller guarantees that the product they are selling is fit for the purpose it was intended for. This warranty is not explicitly stated, but is implied by the law. What is breach of implied warranty of merchantability? The implied … Read more

What is the net profit?

It is important to know what the net profit means, as well as its difference between gross profit. But what do both concepts mean? Net profit turns out to be the subtraction of net income and expenses that you have incurred over a period of time to be able to carry out a business activity. … Read more