‘Despite of certain shortcomings, range is widely used due to its simplicity’ In the context of above statement, explain any two merits and demerits of range as a measure of dispersion.
Merits of range are
(i)It is very easy to calculate. Hence, it is considered as the easiest measure of dispersion.
(ii) No, special knowledge is needed while calculating range. -
Demerits of range are
(i) It is an unstable measure of dispersion. It depends upon-the extreme values of the series.
(ii) Range gives no precise knowledge about the formation of series.