What is the interquartile range (IQR)?
An example of an AI chatbot conversation about understanding the interquartile range (IQR).
Can you explain what the interquartile range (IQR) is?
Sure! The interquartile range (IQR) is a measure of statistical dispersion. It represents the range within which the middle 50% of your data lies.
How do you calculate the IQR?
To calculate the IQR, you first find the first quartile (Q1) and the third quartile (Q3). The IQR is then Q3 - Q1.
What do Q1 and Q3 represent?
Q1 is the median of the lower half of the data, while Q3 is the median of the upper half. They help identify the spread of the middle 50%.
Why is the IQR important?
The IQR is important because it helps to identify outliers and gives a better sense of the data's variability than the range.
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