Box plots provide a clear and effective way of visually representing data, showcasing important characteristics such as minimum and maximum values, quartiles, median, and outliers. They are also helpful in comparing data by plotting multiple box plots on the same diagram.
Let's take a closer look at the components of a box plot and understand how to decipher it.
The interquartile range (IQR) is the difference between the upper and lower quartile and can be identified from a box plot. In the example below, the IQR can be calculated by subtracting the lower quartile from the upper quartile:
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