The distance between the first quartile and the third quartile is called the interquartile range (IQR), and in this section, we will learn about the interquartile range formula. Before moving to the formula part, let us understand what the first quartile and third quartile mean. First Quartile - \(Q_1 \): It is the data point located between the median and the smallest number of the given data. It divides the data at the 25% mark. Third Quartile -\(Q_3 \): It is the data point located midway between the median and the highest number of the given data. It divides the data at the 75% mark. Let's learn about the IQR formula with a few examples in the end.
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