Question

True or False. The difference between Q3 (quartile 3) and Q1 (quartile 1) is referred to as the IQR (interquartile range) and is a measure of the middle 50% of our data.

Answer 1

Answer: True

Explanation:

The interquartile range is also known as midspread and it is the between the first and third quartile (25th and 75th percentile respectively) serving as a robust measure of sample dispersion.

Interquartile range (IQR) = Q3 - Q1

As a measure of variability, it is based on splitting data sets into quartile (four equal portions). The values differentiating these portions are known as the first, second, and third quartile which are represented as Q1, Q2, and Q3, respectively.