A heuristic algorithm is proposed for dynamic calculation of the median and other quantiles. The estimates are produced dynamically as the observations are generated. The observations are not stored; therefore, the algorithm has a very small and fixed storage requirement regardless of the number of observations. This makes it ideal for implementing in a quantile chip that can be used in industrial controllers and recorders. The algorithm is further extended to histogram plotting. The accuracy of the algorithm is analyzed.

The P 2 algorithm for dynamic calculation of quantiles and histograms without storing observations

Scan to connect with one of our mobile apps

Coinbase Wallet app

Coinbase app

Or try the Coinbase Wallet browser extension