Quartile Deviation - Measures of Dispersion, Business Mathematics & Statistics

# Quartile Deviation - Measures of Dispersion, Business Mathematics & Statistics Video Lecture - Business Mathematics and Statistics - B Com

115 videos|142 docs

## FAQs on Quartile Deviation - Measures of Dispersion, Business Mathematics & Statistics Video Lecture - Business Mathematics and Statistics - B Com

 1. What is quartile deviation in statistics?
Ans. Quartile deviation is a measure of dispersion that quantifies the spread of data around the median. It is calculated as the difference between the upper quartile (Q3) and the lower quartile (Q1), divided by 2. It provides information about how the data points are distributed within the middle 50% of a dataset.
 2. How is quartile deviation different from standard deviation?
Ans. Quartile deviation and standard deviation are both measures of dispersion, but they capture different aspects of the data. Quartile deviation measures the spread of data around the median, while standard deviation measures the spread of data around the mean. Standard deviation considers all data points in the calculation, while quartile deviation only focuses on the middle 50% of the data.
 3. What does a large quartile deviation indicate?
Ans. A large quartile deviation indicates that the data points in a dataset are widely spread out around the median. This suggests that there is significant variability within the middle 50% of the data. In other words, there is a larger dispersion or difference between the upper and lower quartiles, indicating a greater range of values.
 4. How is quartile deviation useful in statistics?
Ans. Quartile deviation is useful in statistics as it provides a measure of dispersion that is less influenced by extreme values or outliers compared to standard deviation. It is particularly useful when dealing with skewed or non-normal distributions. Quartile deviation also helps in comparing the variability of different datasets or groups.
 5. Can quartile deviation be negative?
Ans. No, quartile deviation cannot be negative. It represents the absolute difference between the upper and lower quartiles, divided by 2. Since the upper quartile is always greater than or equal to the lower quartile, the quartile deviation will always be a non-negative value.

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