What are some examples of IQR in data analysis?
An example of an AI chatbot conversation about IQR in data analysis.
What is IQR and how is it used in data analysis?
IQR stands for Interquartile Range. It's a measure of statistical dispersion, representing the range between the first and third quartiles.
Can you give me an example of how to calculate IQR?
Sure! To calculate IQR, first find the first quartile (Q1) and the third quartile (Q3). Then, subtract Q1 from Q3: IQR = Q3 - Q1.
What does a high IQR indicate about a dataset?
A high IQR indicates that the data points are spread out over a wider range, suggesting more variability in the dataset.
How can I use IQR to identify outliers?
You can identify outliers by calculating the lower and upper bounds: any data point below Q1 - 1.5IQR or above Q3 + 1.5IQR is considered an outlier.
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