Home Level characteristics Variability characteristics

Range Average deviation Variance Standard deviation

Variability characteristics Range

Range $R$

The example: Calculate range of values: 1; 2; 3; 4; 5.

A calculation of the range

x_i (the values are separated by a space):

Range $R$

The range $R$ is given by the difference between the highest and lowest element values in the statistical set.

$R = x_{\max} - x_{\min}$

$R$: range;
$x_{\max}$: the maximum from the statistical set;
$x_{\min}$: the minimum from the statistical set.

The range is an indicator of variability.

Author: Jitka Vachtová © 2019

This site uses cookies to provide services, customize ads and analyze traffic. By using this site, you agree with this.

Math Consulting | The Mathematics of Finance