A boxplot is a very simple graph intended to display the distribution of the quartiles. In order for the graph to be effective, we must start with the scale and the label:
The interquartile range (IQR) is the range between Q1 and Q3. In other words, it is the range of the box in our boxplot.
In short, IQR = Q3 - Q1.
Sometimes, our boxplot gets really long whiskers - ridiculously long whiskers. This is because we may have a single point that is ridiculously extreme one way or the other.
There is a way to exclude these extreme points from the plot. Using the IQR, we can judge what a reasonable distance is to consider points valid or extreme. If points are within this distance, we keep them in the graph. Points beyond this reasonable distance are called outliers.
What is this reasonable distance? Any point within \(1.5\cdot IQR\) of the box is reasonable. Any points further than \(1.5\cdot IQR\) from the box is considered an outlier. In short,