True ..
You can also use this formula instead..
The interquartile range (IQR) is a measure of variability, based on dividing a data set into quartiles. The values that divide each part are called the first, second, and third quartiles; and they are denoted by Q1, Q2, and Q3, respectively.
Q1 is the “middle” value in the first half of the rank-ordered data set.
Q2 is the median value in the set.
Q3 is the “middle” value in the second half of the rank-ordered data set.
The formula for inter-quartile range is given below
IQR=Q3−Q1
Where,
IQR=Inter-quartile range
Q1 = First quartile
Q3 = Third quartile
Q1 can also be found by using the following formula
Q1=(n+14)thterm
Q3 can also be found by using the following formula:
Q3=(3(n+1)4)thterm
In these cases, if the values are not whole number, we have to round them up to the nearest integer.
Q2 can also be found by using the following formula:
Q2 = Q3 – Q1
Which is equivalent to median.