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In this formula, x refers to the midpoint of the class intervals, and f is the class frequency. Note that the result of this will be different from the sample mean of the ungrouped data. The mean for the grouped data in the above example, can be calculated as follows:
It is known as the upper quartile, as 75% of the data lies below this point. [1] Along with the minimum and maximum of the data (which are also quartiles), the three quartiles described above provide a five-number summary of the data.
Splitting the observations either side of the median gives two groups of four observations. The median of the first group is the lower or first quartile, and is equal to (0 + 1)/2 = 0.5. The median of the second group is the upper or third quartile, and is equal to (27 + 61)/2 = 44. The smallest and largest observations are 0 and 63.
The third quartile value for the original example above is determined by 11×(3/4) = 8.25, which rounds up to 9. The ninth value in the population is 15. 15 Fourth quartile Although not universally accepted, one can also speak of the fourth quartile. This is the maximum value of the set, so the fourth quartile in this example would be 20.
The lower quartile corresponds with the 25th percentile and the upper quartile corresponds with the 75th percentile, so IQR = Q 3 − Q 1 [1]. The IQR is an example of a trimmed estimator , defined as the 25% trimmed range , which enhances the accuracy of dataset statistics by dropping lower contribution, outlying points. [ 5 ]
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The actual values obtained depends on the actual data. Choosing numbers like 1,2,3 ... for the data emphasizes that point and hints directly to the reader how a quartile was calculated. For example a quartile of 1.5 would hint that this quartile is in the middle between the first and second number of the list.
From January 2008 to January 2011, if you bought shares in companies when William D. Smithburg joined the board, and sold them when he left, you would have a -14.9 percent return on your investment, compared to a -13.4 percent return from the S&P 500.