The Quantile Function is a statistical tool that helps determine the value below which a given percentage of observations in a dataset falls. For example, the median is the 50th percentile, meaning that half of the data points are below this value. This function is essential for understanding the distribution of data and making informed decisions based on statistical analysis. In probability theory, the quantile function is the inverse of the cumulative distribution function (CDF). It allows researchers to find specific data points corresponding to certain probabilities, aiding in tasks like risk assessment and data interpretation. Quantile functions are widely used in fields such as finance, economics, and social sciences.