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TeachMeFinance.com - explain summary statistics summary statistics The term 'summary statistics' as it applies to the area of basic math can be defined as 'statistics used to summarize a set of observations, in order to communicate as much aspossible as simply as possible; statisticians commonly try to describe the observations in three ways:·'. Previous 5 Terms: Sulfur oxides (SOx) sulphorous sulphureous sum Summarized Income Rate Next 5 Terms: summation Summation Principle Summer Summer and winter peaking Summer fallow About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.