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Range is the ______ - Economics

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Question

Range is the ______ 

Options

  • difference between the largest and the smallest observations

  • difference between the smallest and the largest observations

  • average of the largest and the smallest observations

  • ratio of the largest to the smallest observation

MCQ
True or False
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Solution

The range is the difference between the largest and the smallest observations.

Explanation:

The option difference between the largest and the smallest observations is correct.

The range is defined as the difference between the largest and the smallest observations.

Algebraically,

R = H - L 

Where,

R denotes range

H is the highest value

L is the lowest value

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