What is the 5 Number Summary?
The 5 number summary is a statistical measure that provides a concise overview of the distribution of a dataset. It consists of the following 5 values:
- Minimum: The smallest value in the dataset.
- First Quartile (Q1): The value that divides the lower 25% of the data from the upper 75%.
- Median: The middle value in the dataset when the values are arranged in order from smallest to largest.
- Third Quartile (Q3): The value that divides the upper 25% of the data from the lower 75%.
- Maximum: The largest value in the dataset.
The 5 number summary is useful for quickly understanding the spread and distribution of a dataset, without needing to look at the full set of values. It provides information about the central tendency (median), the spread (min and max), and the symmetry (quartiles) of the data.
This summary can be especially helpful for identifying outliers, skewness, and other distributional characteristics of the data. It is a valuable tool for exploratory data analysis and can inform decisions about appropriate statistical analyses to perform on the dataset.