What does the interquartile range (IQR) represent in a dataset?

The interquartile range (IQR) measures the spread of the middle 50% of a dataset, which is defined as the difference between the first quartile (Q1) and the third quartile (Q3). By focusing on this middle section, the IQR effectively helps in understanding the variability of a dataset while minimizing the influence of outliers or extreme values that might skew the range if the entire dataset were considered.

This characteristic of the IQR allows statisticians and data analysts to assess the concentration of data points within the central portion of the distribution, thus providing a clearer picture of its overall characteristics without being affected by the extremes. Hence, it quantifies the range in which the central half of the dataset lies, making it a robust measure of variability.