The first quartile (Q1) is the value that separates the lowest 25% of the data set from the rest. It is also known as the 25th percentile.
The median (Q2) is the middle value that separates the higher half from the lower half of a data set.
The IQR is calculated as Q3 - Q1 and measures the spread of the middle 50% of a data set.
$Q3$ or third quartile, represents the value separating the highest 25% from the rest of a data set, also known as the 75th percentile.