It gives us information about different things which help us get insights of the data, these include median (Q2), first quartile (Q1), third quartile (Q3), minimum value, maximum value, outliers, and interquartile range (IQR).
1. The line in the middle of the box is the median value.
50% of the data is on one side of the median, and 50% of the data is on the other side of the median.
2. The first quartile (Q1) is the middle value between the median and minimum value in the data set. (See figure)
3. The third quartile (Q3) is the middle value (median) between the median and maximum value. (See figure)
4. Interquartile range (IQR) can be calculated by using the first (Q1) and third quartile (Q3):
IQR = Q3-Q1
4. Minimum and maximum values are called whiskers, and anything beyond these points is considered an outlier.
That's all for today. I hope this thread gives you a good understanding of how to interpret box plots.
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