Business Statistics- Range, Quartile deviation, Mean deviation, Standard deviation

Range 

The range is the simple method of studying dispersion. It is defined as difference between the value of the smallest item and the value of largest item included in the distribution.

Range= L-S

L= Largest Item

S= Smallest Item

Coefficient of Range = L-S/L+S

Que 1. Calculate Range and its coefficient 

Sol

         

             Range= L-S

 

                            L = 250

                            S = 160

Range = 250-160

   = 90

Coefficient of Range = L-S/L+S

                                   = 250-160/250+160

                                  = 90/410

                                   = 0.22

 

Quartile Deviation

Sol

         

Arrange in ascending order

Que 2

 

Que 3

Mean Deviation:

 

The mean deviation is also known as the average deviation. It is the average difference between the items in a distribution and the median or mean of that series

Que 1

Que 2

Que 3

Standard Deviation: 

 

The standard deviation concept was introduced by Karl Person in 1823. The standard deviation measures the absolute dispersion or variability of a distribution, the greater the amount of dispersion or variability the greater the standard deviation.

 

 

 Que 1 Cal Standard deviation from Individual series

 

 

 

Que 2 Cal Standard deviation from Discrete series

 

 

 

Que 3 Cal. Standard deviation from Continuous Series

 

 

                                                       = 1.4839*10

                                                       = 14.839

Do it yourself

Que. 1

Que 2