What is a 5- number summary?

A 5-number summary is a descriptive statistic that provides a concise summary of a dataset's distribution. It consists of five key values:

1. Minimum: The smallest value in the dataset.

2. First Quartile (Q1): The value separating the bottom 25% of the data from the top 75%. Also known as the 25th percentile.

3. Median (Q2): The middle value of the dataset when sorted. It separates the bottom 50% from the top 50%. Also known as the 50th percentile.

4. Third Quartile (Q3): The value separating the bottom 75% of the data from the top 25%. Also known as the 75th percentile.

5. Maximum: The largest value in the dataset.

The 5-number summary is often used to create box plots, which provide a visual representation of the data's distribution and identify potential outliers.