QuantomLab

Range

Range is a basic statistical measure that describes the spread of a dataset by comparing its smallest and largest values.

What is range?

Range measures how far apart the minimum and maximum values in a dataset are. It is the simplest indicator of variability in statistics.

A small range means that data values are close together, while a large range indicates greater dispersion.

Range formula

The range is calculated using the following formula:

Range = Maximum value − Minimum value

Where:

Example of range

Dataset: 5, 8, 12, 20, 25
Maximum = 25
Minimum = 5

Range = 25 − 5 = 20

How to interpret range

Range gives a quick overview of data spread but does not describe how values are distributed between the minimum and maximum.

Because it only depends on two values, range is usually interpreted alongside other measures such as variance and standard deviation.

Advantages of range

Range is useful because it is:

Limitations of range

Despite its simplicity, range has important limitations:

Range vs variance and standard deviation

Range considers only the extreme values of a dataset, while variance and standard deviation take all data points into account.

For this reason, range is best used as a complementary measure rather than a standalone indicator of variability.

When is range used?

Range is commonly used in: