Calculate quartiles for a set of data.
Frequently Asked Questions (FAQs):
- What are quartiles, and why are they important?
- Quartiles divide a dataset into four equal parts, helping us analyze the distribution of data and identify key values. They’re crucial in statistics for understanding the spread and central tendency of data.
- What is the formula for calculating quartiles?
- The formula for calculating the first quartile (Q1), second quartile (Q2 or median), and third quartile (Q3) of a dataset with n values is based on their positions in sorted data.
- How do I interpret quartiles?
- Quartiles provide insights into the distribution of data. Q1 represents the 25th percentile, Q2 is the median (50th percentile), and Q3 is the 75th percentile. They help identify the spread of data below and above the median, as well as potential outliers.