The document discusses quartiles, which divide a dataset into four equal parts. There are three quartiles: the first quartile (Q1) divides the data so that 25% falls below it; the second quartile is the median, which halves the data; and the third quartile (Q3) divides the data so that 75% falls below it. Formulas are provided for calculating quartiles for both ungrouped and grouped data. Examples of calculating quartiles from datasets are also shown.