Which statistical measure represents the difference between the highest and lowest values within a dataset?

The concept of range is pivotal in understanding the spread of values in a dataset. It quantitatively expresses the difference between the maximum and minimum values present, providing a simple yet effective measure of variability. Specifically, the range is calculated by subtracting the smallest value (minimum) from the largest value (maximum).

For example, if a dataset includes the numbers 3, 7, and 10, the highest value is 10 and the lowest is 3. The range would be calculated as 10 - 3, which equals 7. This indicates that there is a spread of 7 units among the data points.

In contrast, standard deviation and variance measure variability in a different manner, accounting for how individual data points deviate from the mean, rather than focusing solely on the extremes of the dataset. The mean, on the other hand, is the average value and does not reflect the extent of the spread or the differences between values. Therefore, understanding the specific role of range as the measure of difference between the highest and lowest values is crucial in statistical analysis.