What Is the High-Low Method? Briefly Describe How It Is

question 39

Essay

What is the high-low method? Briefly describe how it is applied.

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Definitions:

Range

The difference between the highest and lowest values in a dataset, providing a measure of the overall spread.

Variance

A measure of the dispersion indicating how far each number in the set is from the mean and from each other.

Standard Deviation

Standard deviation is a measure of the dispersion or spread of a set of data points relative to its mean, indicating how spread out the data points are.

Salaries

Payments made regularly by an employer to an employee, especially a professional or white-collar worker.