Today I Learned: The Rule of 5
I was reading the (so far) very interesting book, How to Measure Anything by Douglas W. Hubbard,
and he mentioned the rule of five. Essentially, if you collect 5 data points at random the median of
that distribution will be within the biggest and smallest sample value with a probability of
0.9375. This follows from the definition of the median, i.e., that 50% of the probability mass is on
each sides. So there is a