CA Foundation · Quantitative Aptitude · Statistical Description of Data
A dataset of monthly sales (in ₹'000) for a retail store shows the following values: 45, 52, 48, 55, 50. What is the range of this sales data?
The range is ₹10,000. Range is calculated as the difference between the highest value (₹55,000) and the lowest value (₹45,000) in the dataset.
- A₹5,000
- B₹10,000Correct
- C₹7,000
- D₹8,000
Explanation
Range is the difference between the maximum and minimum values. Maximum = 55 (in ₹'000), Minimum = 45 (in ₹'000). Range = 55 − 45 = 10 (in ₹'000) = ₹10,000. This is the simplest measure of dispersion and captures the spread of extreme values.
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