Question

05 make a comment on what varaince descripes by comparing the spread of data in 01 vS Q2

Answer 1

In statistics, the range is a measure of the total spread of values in a quantitative data set. Unlike other more popular measures of dispersion, the range actually measures total dispersion rather than relative dispersion around a measure of central tendency.

The range is interpreted as the overall dispersion of values in a data set or, more literally, as the difference between the largest and the smallest value in a data set. The range is measured in the same units as the variable of reference and, thus, has a direct interpretation as such. This can be useful when comparing similar variables but of little use when comparing variables measured in different units. However, because the information the range provides is rather limited, it is seldom used in statistical analyses.

The mid-range is the midpoint of the range; as such, it is a measure of central tendency. The mid-range is rarely used in practical statistical analysis, as it lacks efficiency as an estimator for most distributions of interest because it ignores all intermediate points. The mid-range also lacks robustness, as outliers change it significantly. Indeed, it is one of the least efficient and least robust statistics.