Ranked Placement Help Requested

I recently finished provisional games at 5 wins and 5 losses. A friend of mine finished with less wins and placed bronze 2 while I placed bronze 4. I would like to know why this happens. Especially when I won less provisional games last year and placed in bronze 1. I assumed that I would be placed higher than someone who did worse in provisional games (If worse is defined as the number of wins to losses) but is that not the case?

If anyone has any insight into this topic I would love to hear it.