STATISTICAL TECHNIQUES AND TOOLS
MEASURES OF VARIABILITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Only two values are used in the calculation.
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It is influenced by extreme values.
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Either A or B
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None of the above
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Detailed explanation-1: -The range is the simplest measure of variation to find. It is simply the highest value minus the lowest value. Since the range only uses the largest and smallest values, it is greatly affected by extreme values, that is-it is not resistant to change. That’s why the best measure of variability is standard deviation.
Detailed explanation-2: -The range is easy to calculate but it is very much affected by extreme values. Like the range, the IQR is a measure of variability, but you must find the quartiles in order to compute its value. The interquartile range is the difference between upper and lower quartiles and denoted as IQR.
Detailed explanation-3: -Common Measures of Variance The range is the difference between the high and low values. Since it uses only the extreme values, it is greatly affected by extreme values. The variance is the average squared deviation from the mean.
Detailed explanation-4: -Range. Weakest of all measures. The range does not take into consideration how variable the data is in a given distribution.