Step 1: Recall definitions of statistical terms.
- Class interval: The range of values in a class in grouped data.
- Frequency: The number of times a particular observation occurs.
- Cumulative frequency: The running total of frequencies up to a certain point.
- Range: The difference between the maximum and minimum observations in a data set.
Step 2: Match the definition to the problem.
The difference between the maximum and minimum observations is called the range.
Final Answer: The correct term is \( \mathbf{\text{range}} \), which corresponds to option \( \mathbf{(4)} \).