Uses of range - measure of dispersion, Operation Research

Uses of Range

a.Range is suitable  measure  of dispersion  when the  data are too  scattered to justify the  computation of a more precise  measure of dispersion.

b.In recent  years  range   has got  a special  application in  the quality control  techniques. There are  two reason for this .

1.It is easy  to calculate and simple to understand.

2.Range  is rather  good basis for estimating the standard  deviation if  the sample  is small  and the  population  is through to be  nearly normal.

c. It is very useful  measure to  study  fluctuation  of data. For  example  variation in weather forecasts   movements in the  prices  of shares etc.



Posted Date: 3/4/2013 2:33:08 AM | Location : United States

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