What is the interquartile range?

📊📈🔍 Hey guys, let’s talk about the interquartile range! 📊📈🔍

The Interquartile Range (IQR) is a measure of variability in a distribution. It’s the range between the first quartile (25th percentile) and the third quartile (75th percentile) of the data.

The interquartile range is a great way to describe the variability of points near the center of a distribution. Since it only looks at the middle 50% of the data, it tells us how spread out the values are around the median. It’s like looking at the width of the bullseye on a dartboard – the wider the bullseye, the more spread out the values are around the center.

💡 For example, let’s say we have a dataset of test scores, and the interquartile range is 15 points. That means that the middle 50% of the scores are within a 15-point range around the median score. If the IQR was smaller, like 5 points, that would mean the scores are more tightly clustered around the median. If the IQR was larger, like 20 points, that would mean the scores are more spread out around the median.

💡 And there you have it! The interquartile range is a useful measure of variability in a distribution, and it helps us understand how spread out the values are around the median. 💡