LML Ltd, earlier known as Lohia Machines Ltd, was incorporated in 1972. The company initially used to manufacture synthetic yarn. Later in 1984, as a result of technical collaboration with Piaggio, the company diversified into scooter manufacturing. Following table shows the sales of LML for different financial years. Compute the range and coefficient of range from the given data.
Range = L - S
Here, L = Largest sales = 12503.6
S = Smallest sales = 2120.3
Range = 12503.6- 2120.3= 10383.3
Coefficient of Range =L-S/ L + S = 12503.6 - 2120.3 / 12503.6 + 2120.3 = 10383.3 /14623.9 = 0.71