Final answer:
Quartiles divide a set of ordered data into four equal parts, representing the 25th, 50th, and 75th percentiles, with the 50th percentile also known as the median.
Step-by-step explanation:
Quartiles are a measure used in statistics to divide a set of data into four equal parts. Each quartile represents a different portion of the data. The first quartile (Q1) is the 25th percentile, marking the value below which 25% of the data falls. The second quartile (Q2), also known as the median, is the 50th percentile, which divides the data into two halves. The third quartile (Q3) is the 75th percentile, indicating the value below which 75% of the data falls.
To calculate these, the data must first be ordered from smallest to largest. Quartiles and percentiles provide a way to interpret the distribution of data, with the median serving as a key reference point. Understanding these concepts helps in analyzing data to determine variability, center of the data, and potential outliers.