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1) A manufacturer representing the spread of the lifetimes of bulbs from his production line. The standard deviation is 15.9 hours and the interquartile range is 27.7 hours. 2) Whether a businessman should use the median and IQR or the mean and standard deviation to compare the daily sales for this year with last year's. I really need to understand WHY so please give a reason for your choice. Thanks :)
The interquartile range, abbreviated IQR, is just the width of the box in the box-and-whisker plot. That is, IQR = Q3 â Q1. The IQR can be used as a measure of how spread-out the values are. Statistics assumes that your values are clustered around some central value. The IQR tells how spread out the middle values are; it can also be used to tell when some of the other values are too far from the central value.