First of all let me say that I am as new to the python world that I am to statistics. So I apologize in advance if my question seems trivial or even imprecise. I will do my best to express myself right.
I have an empirical dataset for a continuous variable. I have found a convenient piece of code (Data Fitting - El Nino example by @tmthydvnprt) that fits my dataset with different distribution types and returns the best one (smallest sum of square error between the distribution's histogram and the data's histogram.).
Now, I need to calculate the value that is smaller than 60% of the data elements. In other words if I have a dataset vector:
DataSet = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]
I want to answer the question: what's the value
, for which 60% of the elements are equal or larger?
value = 5 as there are 6/10 values that are equal or greater than 5.
As the distribution function that the code returns can be not normal I guess that the definition of standard deviation and mean do not really apply here. So how do I handle a 'random' probability distribution function to find the value I am looking for? Should I normalize it somehow or use median and quartiles? Or...?