What is Inter Quartile Range?
Question
TheDataMonk
Follow Me
About TheDataMonkGrand Master
I am the Co-Founder of The Data Monk. I have a total of 6+ years of analytics experience 3+ years at Mu Sigma 2 years at OYO 1 year and counting at The Data Monk I am an active trader and a logically sarcastic idiot :)Follow Me
Answers ( 2 )
In simple terms, IQR is where the 50% of values of the dataset lie in. It is the difference between the first and third quartile.
IQR is basically the range calculated by taking difference between the third quartile and 1st quartile of a normally distributed dataset
i.e, IQR = Q3 – Q1