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How do I calculate the 5-number summary?
To calculate the 5 number summary you need to order your data set from largest to smallest and find:
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The maximum: Largest value in your data set
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The third quartile: Value where 75% of the values are below. To find it use this formula, where "n" is the number of observations in your data set ##(75/100)*n## The result is the position of the value counting from the largest value to the smallest
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The median : The middle value, is that value where exactly half of the values are above and the remaining half is below that value. In case of an even number of observations is the simple average of the two values in between.
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The first quartile : The value where 25% of the values are below. To find it, use the same formula we used for the 3rd quartile just that now is 25 instead of 75. ##(25/100)*n## The result is the position of the value counting from the largest value to the smallest
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The minimum : Smallest value in your data set
