Statistics >> Different Measures of Dispersion
Range: Range is widely used in statistical Quality control (S. Q. C), weather forecasting, stock market fluctuations etc.
Quartile Deviation: QD is used in elementary descriptive statistics where the distribution is open end. In case of attributes, QD is more appropriate.
Mean Deviation: MD is frequently used by the 'economic and business statisticians due to its simplicity. It is used in computing the distribution of wealth in a community.
Standard Deviation: SD is used in statistical' theory such as skewness, kurtosis, correlation and regression analysis, sampling theory and tests of significance etc. It is the most widely used measure of dispersion.
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