When arranged from lowest to highest, the IQR describes the median 50% of values. Find the median (middle value) of the lower and higher half of the data to get the interquartile range (IQR). These are the quartile 1 (Q1) and quartile 3 (Q3) values (Q3).
The interquartile range offers you the spread of the middle half of a data set, whereas the range gives you the spread of the entire data set.
Outliers are data that is more than 1.5 times the value of the interquartile range beyond the quartiles. Semi-interquartile range and mid-quartile range are also words used by statisticians. Half of the difference between the first and third quartiles is the semi-interquartile range.
For skewed distributions or data sets with outliers, the interquartile range is the best measure of variability. It is unlikely to be influenced by outliers because it is based on numbers from the middle half of the distribution.
The range is a measurement of how evenly distributed our entire data collection is. The interquartile range, which illustrates how spread out the middle 50% of our data set is, tells us how far apart the first and third quartiles are.
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