Range:

Definition: The range is a measure of dispersion that represents the difference between the maximum and minimum values in a dataset.

Calculation: Range = Maximum Value - Minimum Value

Use Cases: The range provides a simple and quick way to assess the spread or variability in a dataset. However, it is highly sensitive to extreme values and may not accurately reflect the overall distribution.

Mean Deviation:

Definition: Mean deviation, also known as average deviation, is a measure of dispersion that calculates the average absolute difference between each data point and the mean of the dataset.

Calculation: Mean Deviation = (Σ |X - Mean|) / N, where Σ denotes the sum, |X - Mean| is the absolute deviation for each data point, and N is the number of observations.

Use Cases: Mean deviation provides a more comprehensive measure of dispersion than the range. It considers the differences between each data point and the mean, offering a sense of the average variability in the dataset.