Median, Quartiles, Percentiles (examples, solutions, videos).

Interquartile, Semi-Interquartile and Mid-quartile Ranges In a set of data, the quartiles are the values that divide the data into four equal parts. The median of a set of data separates the set in half. The median of the lower half of a set of data is the lower quartile ( L Q ) or Q 1. The median of the upper half of a set of data is the upper quartile ( U Q ) or Q 3.

Definition and Formula. Interquartile range is defined as the difference between the upper and lower quartile values in a set of data. It is commonly referred to as IQR and is used as a measure of.

The lower quartile (Q 1) The middle quartile or median (Q 2) The upper quartile (Q 3) lnterquartile range The interquartile range is the difference between the third quartile and the first quartile. It measures the range of the middle 50% of the data (in ascending order). A large interquartile range indicates the data Values are widely dispersed.

For example, if we were to look at all of the closing prices for Company XYZ stock for every day in the last year, the top 25% of those prices would represent the upper quartile of the data.The bottom 25% of those prices would represent the lower quartile of the data. There would be two quartiles in between the upper and lower quartiles.

To find the first quartile of a set of numbers, find the median of the lowest half of the data set. This median is the first, or lowest, quartile in the data set. To find the third, or upper, quartile of a data set, instead find the median of the higher half of numbers in the set. Quartiles divide a set of numbers into four equal parts.

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The median helps to determine the quartile range and the skew of the data. The median is not affected much by the small proportion of the data with very high or very low values. The median is a good measure of the central tendency and dispersion of the data when considering what makes a Major League Baseball team successful team.

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The lower quartile is the value that is between the least value and the middle value. So, the lower quartile is 260. The upper quartile is the value that is between the greatest value and the middle value. So, the upper quartile is 370. The average of the lower quartile and the higher quartile is equal to 315. D Example 3.

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