Glossary / Lexicon

What is a quartile?

04/02/2024 | By: FDS

A quartile is a statistical concept that divides a dataset into four equal parts. It is a type of quantile, where the first quartile (also known as the 25th percentile) represents the value below which 25% of the data lies, the second quartile (median) divides the data into two halves, and the third quartile (also known as the 75th percentile) represents the value below which 75% of the data lies.

Quartiles are commonly used to describe the dispersion and distribution of data. They allow for the segmentation of data into different ranges and facilitate the calculation of important statistical metrics such as the median and interquartile range. Quartiles are particularly useful for identifying outliers in a dataset and discerning general patterns or trends.

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