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Which among the following is the best measure of variability?

Which among the following is the best measure of variability? Correct Answer Standard Deviation

  • The standard deviation is a measure that summarizes the amount by which every value within a dataset varies from the mean. Effectively it indicates how tightly the values in the dataset are bunched around the mean value.
  • The range is the simplest measure of variation to find. It is simply the highest value minus the lowest value.
  • Since the range only uses the largest and smallest values, it is greatly affected by extreme values, that is - it is not resistant to change. That’s why the best measure of variability is standard deviation.

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