How do you interpret the interquartile ratio?

The interquartile ratio (IQR) is a measure of statistical dispersion that represents the range within which the central 50% of a data set lies, calculated as the difference between the third quartile (Q3) and the first quartile (Q1). It is useful for understanding the spread and variability of data while being resistant to outliers. A higher IQR indicates greater variability, while a lower IQR suggests that the data points are more closely clustered around the median. Overall, the IQR provides insight into the distribution of the middle half of the data.