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When might the inter-quartile range be better for describing a data set than the range?
The interquartile range can be more useful when the first and fourth quartiles contain very little data, in other words there are only a very few high or low data points.
What is the usefulness of quartiles in business?
It is a simple but crude measure of the spread of data.
Data that is more than 1.5 times the interquartile range from the quartiles?
Outliers
Three values one of which is the median that divide a data set into fourths?
Quartiles.
What are quartiles in relationship to mean median mode?
Quartiles are values that divide a sample of data into four groups containing the same number of observations. You will find details in the related link.
How many quartiles are there?
There are 5 quartiles in any data set.
How do you find the inner and outer quartiles?
To find the inner quartiles (Q1 and Q3), first arrange your data in ascending order. Q1 is the median of the lower half of the data, and Q3 is the median of the upper half. The inner quartiles divide the data into four equal parts. The outer quartiles also known as the minimum and maximum values, are the smallest and largest values in the data set.
When might the inter-quartile range be better for describing a data set than the range?
The interquartile range can be more useful when the first and fourth quartiles contain very little data, in other words there are only a very few high or low data points.
What is the usefulness of quartiles in business?
It is a simple but crude measure of the spread of data.
What is a representation of data that shows the extremes and quartiles of a data set?
Probably the box and whiskers plot, but there are others.
Data that is more than 1.5 times the interquartile range from the quartiles?
Outliers
Three values one of which is the median that divide a data set into fourths?
Quartiles.
What are the three numbers that separate a set of data into four parts called?
quartiles
How much data do you need in order to have quartiles?
Definately more than 4 pieces of data (intuitively, otherwise at least 2 of your quartiles will fall in exactly the same place as each other). But I think that's the only limit on how much data you need - there is no upper limit.
What are quartiles in relationship to mean median mode?
Quartiles are values that divide a sample of data into four groups containing the same number of observations. You will find details in the related link.
What type of graph is best suited for graphing the quartiles of a set of data?
A Box and Whisker Plot
What is the definition of box plot?
a graphic way to display the median, quartiles, and extremes of a data set on a number line to show the distribution of the data.
