What are the importance of Coefficients in Statistics?
In Statistics, there are plenty of well known numerical coefficients. Mostly they are ratios of some important parameters related to a sample or population, and sometimes those ratios will be represented as percentage. The primary importance of such coefficients is to take inferences or conclusions about a data. When dealing with large populations, it will be very difficult to take a conclusion by going through all the observations. So first calculate some coefficients or percentages using the parameters which depend all the data like mean, variance, standard deviation, etc. Then using those values we can take various conclusions or decisions about the growth, decay, linearity, performance, etc of the data.
How to Calculate Coefficient of Quartile Deviation?
Coefficient of Quartile Deviation calculator uses Coefficient of Quartile Deviation = (Third Quartile of Data-First Quartile of Data)/(Third Quartile of Data+First Quartile of Data) to calculate the Coefficient of Quartile Deviation, Coefficient of Quartile Deviation formula is defined as the ratio of difference between first and third quartiles to their sum. It measures the spread of data around median. Coefficient of Quartile Deviation is denoted by CQ symbol.
How to calculate Coefficient of Quartile Deviation using this online calculator? To use this online calculator for Coefficient of Quartile Deviation, enter Third Quartile of Data (Q3) & First Quartile of Data (Q1) and hit the calculate button. Here is how the Coefficient of Quartile Deviation calculation can be explained with given input values -> 0.333333 = (60-20)/(60+20).