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Interquartile is a term used in statistics. In particular, the interquartile range is one measure of the spread of a distribution. A distribution is a record of the values of some variable.
The interquartile mean is a measure of central tendency. While all values in a data set are used to calculate the mean, only the interquartile range -- the central portion of a data set -- is used to calculate the interquartile mean. Microsoft Excel has an array of built-in functions and formulas. Excel's trimmean function calculates the mean of the interior of a data set.