The Range and Standard Deviation of the Data Set Below $5,24,25,26,40$

question 121

Essay

The range and standard deviation of the data set below are 35 and 12.47 respectively. $5,24,25,26,40$ If the 26 is replaced with 39, how will this affect the range? How will this affect the standard deviation. Use your answers to explain why the standard deviation is preferable to the range as a measure of variation.

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Definitions:

Interest Date

The specific date on which interest payments are due to be paid to lenders or bondholders.

Carrying Amount

The book value of an asset or liability as reported on a company's balance sheet, representing its original cost adjusted for any depreciation, amortization, or impairment charges.

Interest Payment

The amount paid by a borrower to a lender, typically at a set interval, for the use of borrowed money.

Accumulated Depreciation

The total amount of a tangible fixed asset's cost that has been allocated as depreciation expense since the asset was put into use.