Range, variance, and standard deviation fall under which category of statistical measures?

Prepare for the ETS Business Test with quizzes. Study using flashcards and questions, each with hints and explanations. Get exam-ready today!

Range, variance, and standard deviation are indeed categorized as common measures of dispersion. These metrics are used to describe the spread or variability within a dataset.

The range provides a quick view of the difference between the highest and lowest values, giving a basic sense of the data's spread. Variance quantifies the degree to which individual data points differ from the mean of the dataset, highlighting how data points are dispersed around the average. Standard deviation takes this concept further by providing a measure of dispersion in the same units as the original data, making it easier to understand in the context of the dataset.

Measures of central tendency focus on identifying the center point of data, while measures of correlation assess the relationships between two or more variables. Types of sampling methods describe techniques used to select observations from a population. None of these directly relate to how data varies or is spread out, thus reinforcing the selection of measures of dispersion as the correct category for range, variance, and standard deviation.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy