In order to understand this better, let us consider the following:
- Import the relevant packages:
from scipy.stats import norm
- Extract the value associated with the 95% percentile (quantile) value:
norm.ppf(0.95)
The output of the preceding line of code is 1.6448536269514722.
- The inverse of the preceding output can be calculated as follows:
norm.cdf(1.6448)
The output of this is 0.94999446890607997.