BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Quartile
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Decile
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Percentile
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Interquartile Range
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Detailed explanation-1: -The formula for finding the interquartile range takes the third quartile value and subtracts the first quartile value. Equivalently, the interquartile range is the region between the 75th and 25th percentile (75 – 25 = 50% of the data).
Detailed explanation-2: -The difference between the 75th and 25th percentile is called the interquartile range.
Detailed explanation-3: -Quartiles divide data into quarters. The first quartile (Q1) is the 25th percentile, the second quartile (Q2 or median) is 50th percentile, and the third quartile (Q3) is the the 75th percentile. The interquartile range, or IQR, is the range of the middle 50 percent of the data values.
Detailed explanation-4: -The interquartile range is the difference between upper and lower quartiles. The semi-interquartile range is half the interquartile range. When the data set is small, it is simple to identify the values of quartiles.
Detailed explanation-5: -The range is the distance from the highest value to the lowest value. The Inter-Quartile Range is quite literally just the range of the quartiles: the distance from the largest quartile to the smallest quartile, which is IQR=Q3-Q1.