METHODS OF DATA ANALYSIS
MEASURES OF DISPERSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The range
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The standard deviation
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Either A or B
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None of the above
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Detailed explanation-1: -Therefore, quartile deviation is not affected by the extreme values of the series.
Detailed explanation-2: -Range is the most simple and commonly understandable measures of dispersion. Range is defined as the difference between the highest(or largest ) and lowest(or smallest) observed value in a series. Therefore, it is the most affected measures of dispersion by the extreme values of the series.
Detailed explanation-3: -Standard deviation is sensitive to extreme values. A single very extreme value can increase the standard deviation and misrepresent the dispersion. For two data sets with the same mean, the one with the larger standard deviation is the one in which the data is more spread out from the center.
Detailed explanation-4: -The best measurement for dispersion is standard deviation. Standard Deviation helps to make comparison between variability of two or more sets of data, testing the significance of random samples and in regression and correlation analysis.