IMHO, the value of a set of data is based on the economic value that can be realized using that data, and the probability that someone will apply the data to realize that value.
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The range is the size of the set of data. Take the smallest from the largest value to get the range
It is a value which appears not to fit in with the other data elements.
Arrange the values in your data set in increasing order. The last value is the maximum value. Example: Data set : 3,5,2,4,6 Arranged values : 2,3,4,5,6 Maximum value is 6.
RANGE IS the diffrence between the greatest value data and the least value of data
An outlier