3.4 Summarizing the Distribution

• Whole distribution is too much information to take in

• Pick ways to take the entire distribution and produce a few numbers that describe that distribution pretty well.

3.4.1 Centrality

summary(scorecard_2013$amnt_earnings_med_10y)

##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##    9500   23800   30800   32993   38950  233100

• mean: representative value
• median: representative observation

3.4.2 Percentiles

quantile(scorecard_2013$amnt_earnings_med_10y, 0.25)

##   25% 
## 23800

quantile(scorecard_2013$amnt_earnings_med_10y, 0.75)

##   75% 
## 38950