Range: It is the simplest measure or dispersion. It is the difference between
the highest and lowest terms of a series of the observation
Range = XH~ XL
Where XH= Highest variate value
And XL= Lowest variate value
In practice, very high and very low values are very infrequent, but if
theyappear, the range is affected disproportionately. It is affected by
fluctuations of sampling, and is completely unrelated with any type of
frequency distribution
PROPERTIES OF Range
1) Its value usually increases with the increase in the size of the sample.
2) It is usually unstable in repeated sampling experiments of the same size and
large ones.
3) It is a rough measure of dispersion and is entirely unsuitable for precise and
accurate studies.
The only merit possessed by Range are that it is (i) simple, (ii) easy to
understand, and (iti) quickly calculated. It is often used in certain industrial
work.
Standard Deviation:- SO is the measures of dispersion of a set of data from its
mean. It measures the absolute variability of a distribution, the higher the
dispersion of _ variability, the greater will be the magnitude of the deviation of
the value from their mean.
‘The SD measures the spread of the data about the measure value. It is
usefulbin comparing sets of data which may have the same mean but a
different range. E.g. the mean of the following 2 sets is the same
1)15,15,15,14,16 and ii) 2,7, 14, 22, 30merize continuous data, not
It is used in conjunction wih the mean to sum
ly appropriate
Idition the SD, like the mean, is normally on!
categorical data. In ad
wed or has outlier
when the continuous data is not significantly ske\
he given data set. In
50 tells us how far is the mean from each observation int
‘other words, it shows the typical deviation.
Characteristics and uses of 5.0.
1) Itis rigidly defined
>) Its computation is based on all the obs
3) ifall the variate value are the same, S.D.=0
4) 5.0. is the least affected by fluctuations of samPlI"g
5) It is affected by the change of scale, but not affected by tl
ervations.
he change of,
origin.
uses:-
erent statistical quantities like, regression
a)It is used in computing diff
coefficients, correlation coefficient, etc, And in connection with business
cycle analysis.
dy its also used in testing the reliability of cer
tain statistical measures,
oa relative measure of dispersion. It Is
is is als
re of central
it of the widely used measu
Cofficient Of Variation (CV)=-Thi
lean, And S.D. It is given bY
‘on account
especially important
Arithmetic M
tendency and dispersion i.e.
C.v.