Difference between Range and Standard deviation
The key difference between range and standard deviation is given below:
|
Range |
Standard Deviation |
|---|---|
|
Measures the difference between the highest and lowest values of the distribution. |
Measures the dispersion of data points around the mean |
|
Simple to calculate and understand. |
Requires more computational effort and statistical knowledge. |
|
Susceptible to outliers. |
Less affected by outliers. |
|
Useful for a quick overview of data. |
Offers a more understanding of data variability. |
|
Range is used in exploratory data analysis. |
Standard deviation is used in statistical analysis, finance and quality control. |
|
Consider only two extreme data’s. |
Consider every point in the dataset. |
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Differences between Range and Standard Deviation
In statistics, Range and standard deviation provide insight into the spread or dispersion of data points within the data set. Range and standard deviation are both measures of variability in a dataset, but they differ in their calculation and interpretation.
The purpose of this article is to know the difference between range and standard deviation for the students offering clarity on calculations.
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