What is inter-quartile range (iqr) - Definition and Meaning

Inter-quartile Range (IQR) :

It is used for the statistical calculations of set of data which is divided into 4 equal parts. IQR is the difference between the third and first quartiles.

Formula :

IQR = Q3 – Q1, here Q3 is third quartile, Q1 is first quartile.

Example :

Set = {4,8,12,16,20,24,28,32} Here Q1 = 8, Q3 = 24, IQR = 24 – 8 = 16.
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