Measures of Central Tendency and DispersionMCQPYQ Sep 24Question 3081 of 473
All Questions

What is the range of a data set?

Options

AThe difference between the mean and median of the data set
BThe difference between the highest and lowest values in the data set
CThe number of data points in the data set
DThe standard deviation of the data set
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Correct Answer

✅ Option b — The difference between the highest and lowest values in the data set

All Options:

  • AThe difference between the mean and median of the data set
  • BThe difference between the highest and lowest values in the data set
  • CThe number of data points in the data set
  • DThe standard deviation of the data set

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Detailed Solution & Explanation

By definition, the range is the simplest measure of dispersion and is calculated as the mathematical difference between the highest (maximum) value and the lowest (minimum) value in a given dataset. Mathematically: Range=Maximum Value−Minimum Value\text{Range} = \text{Maximum Value} - \text{Minimum Value} Hence, **Option B** is the correct answer.

About This Chapter: Measures of Central Tendency and Dispersion

Paper

Paper 3: Quantitative Aptitude

Weightage

12-15 Marks

Key Topics

Mean, Median, Mode, Range, Mean Deviation, Standard Deviation

The core foundation of Statistics. This chapter covers Mean (Arithmetic, Geometric, Harmonic), Median, Mode, and their properties. It also explores measures of spread like Range, Mean Deviation, Standard Deviation, and Quartile Deviation.

View Official ICAI Syllabus

Exam Strategy Tip

Do not just memorize formulas; ICAI loves asking about the mathematical properties (e.g., 'sum of deviations from the AM is always zero'). You can usually eliminate 2 options just by knowing the properties.

Key Concepts to Understand

Set

A well-defined collection of distinct objects (called elements or members). Sets are denoted by capital letters and elements are listed within curly braces. Key operations include Union (∪), Intersection (∩), and Complement.

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