Glossary
Range
The Range is defined as the difference between the largest and the smallest observed values in a data set. The Range, including any Outliers, is the actual spread of data and only the largest and smallest data values are considered. The range value of a data set is greatly influenced by the presence of just one unusually large or small value Outlier. It is an informative tool used as a supplement to other measures such as the standard deviation, but it should rarely be used as the only measure of spread. The disadvantage of using range is that it does not measure the spread of the majority of values in a data set and as such should only be used to measure the spread between highest and lowest values.