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Unlike total range, the interquartile range has a breakdown point of 25% [6] and is thus often preferred to the total range. The IQR is used to build box plots, simple graphical representations of a probability distribution. The IQR is used in businesses as a marker for their income rates.
For n = 1 or 2, the midrange and the mean are equal (and coincide with the median), and are most efficient for all distributions. For n = 3, the modified mean is the median, and instead the mean is the most efficient measure of central tendency for values of γ 2 from 2.0 to 6.0 as well as from −0.8 to 2.0.
the middle value that separates the higher half from the lower half of the data set. The median and the mode are the only measures of central tendency that can be used for ordinal data, in which values are ranked relative to each other but are not measured absolutely. Mode the most frequent value in the data set.
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