Finding the Interquartile Range (H-Spread)

The Interquartile Range (IQR), commonly referred to as H-Spread, is a statistical tool used to measure the variability within a data set. Essentially, it represents the range that encompasses the middle 50% of the data, and is determined by subtracting the value of the first quartile (Q1) from the third quartile (Q3). The IQR is beneficial in identifying outliers and gaining insight into the dispersion of data.