What is the IQR method for outlier detection?
An example of an AI chatbot conversation about the IQR method for detecting outliers in data.
Can you explain what the IQR method is for detecting outliers?
Sure! The IQR method, or Interquartile Range method, is a statistical technique used to identify outliers in a dataset.
How does the IQR method work?
It works by calculating the first (Q1) and third quartiles (Q3) of the data, then finding the IQR by subtracting Q1 from Q3.
What values are considered outliers using this method?
Any data point that lies below Q1 - 1.5 * IQR or above Q3 + 1.5 * IQR is considered an outlier.
Can you give me an example of how to apply this?
Of course! If your Q1 is 10 and Q3 is 20, the IQR is 10. Outliers would be below -5 or above 25.
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