Question

To find the difference between maximum and minimum stock prices for a company over a week, which statistical technique is used?

• A. Range
• B. Mode
• C. Mean
• D. Median

Answer 1

The Correct Option is A

The statistical technique to find the difference between maximum and minimum share prices is Range.

(1) Range: The range is the difference between the maximum and minimum values in a dataset. It directly answers the question of finding the difference between the maximum and minimum share prices.

(2) Mode: The mode is the most frequently occurring value. It wouldn't help find the difference between the maximum and minimum share prices.

(3) Mean: The mean is the average value. It provides a central tendency but doesn't directly indicate the difference between extremes.

(4) Median: The median is the middle value when the data is sorted. It doesn't help find the difference between the maximum and minimum share prices.

Therefore, the statistical technique that can be used is (1) Range.