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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def summarize(self, center='mean', fullrange=None, interquartile=None, custom_format='{:.2f}'):
 """Format the compiled statistics to a concise string output Parameter --------- center : str, default `mean` what to return as 'center' of the summary: `mean`, `50%`, `median` fullrange : bool, default None return full range of data if True or `fullrange`, `interquartile` and `format_spec` are None interquartile : bool, default None return interquartile range if True custom_format : formatting specifications """

        # call `reindex()` to reorder index and columns
        self.reindex(copy=False)

        center = 'median' if center == '50%' else center
        if fullrange is None and interquartile is None:
            fullrange = True
        return self.stats.apply(format_rows, center=center,
                                fullrange=fullrange,
                                interquartile=interquartile,
                                custom_format=custom_format,
                                axis=1, raw=False)