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25 Nov 2021
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In statistics, quartiles are the partition values which divide the data into four equal halves. The first quartile is the value below which lies % of data and above lies % of data. The second quartile denotes the median. The third quartile is the value below which lies % of data and above lies % of data.
Interquartile range is the difference between the third quartile and the first quartile. It describes the middle % of values when ordered from lowest to highest. The formula for calculating IQR is:
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