Why Is Standard Deviation Usually Preferred to Range as a Measure

question 63

Short Answer

Why is standard deviation usually preferred to range as a measure of dispersion?

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Definitions:

Social Pillar

One of the three pillars of sustainability, focusing on improving social equity, community development, and human rights.

Workforce

The collective group of individuals engaged in or available for work, either in a specific company or in a country or region.

Customers

Individuals or entities that purchase goods or services from a business, playing a central role in any company's success.

Sustainability

The practice of maintaining processes or systems in a way that doesn't deplete the natural resources or harm the environment for future generations.