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The five number summary is a statistical tool used to describe the center and spread of a dataset. It includes the minimum, first quartile (q1), median, third quartile (q3), and maximum values. This method provides a more complete understanding of the data distribution, as it is less affected by outliers compared to mean and standard deviation.
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There are a variety of descriptive statistics. Numbers such as the mean, median, mode, skewness, and standard deviation, to name a few, each tell us something about our data. Rather than looking at these descriptive statistics individually, sometimes combining them helps to give us a more complete picture. With this end in mind, the five number summary is a convenient way to combine five descriptive statistics. It is intended to help us know the center of our data, as well as how spread out the data points are.
The five number summary consists of the following:
For the following set of 20 data points:
1, 2, 2, 3, 4,│6, 6, 7, 7, 7,│8, 11, 12, 15, 15,│15, 17, 17, 18, 20
A five number summary is:
Min Q1 Med Q3 Max 1 5 7.5 15 20
The mean and standard deviation can also be used together to convey the center and the spread of a set of data. However, both of these statistics are susceptible to outliers. The median, first quartile and third quartile are not as heavily influenced by outliers.
References:
http://statistics.about.com/od/Descriptive-Statistics/a/What-Is-A-Five-Number-Summary.htm
Hyndman, R. J. and Fan, Y. (1996) Sample quantiles in statistical packages, American Statistician , 50:361–