What does iqr represent?

The interquartile range (IQR) represents the range within which the central 50% of a data set lies, specifically between the first quartile (Q1) and the third quartile (Q3). It is calculated by subtracting Q1 from Q3 (IQR = Q3 - Q1) and is used to measure statistical dispersion. The IQR is particularly useful for identifying outliers, as it provides a robust measure of variability that is less affected by extreme values.