What is the difference between the maximum and minimum values in a data set called?

The difference between the maximum and minimum values in a data set is known as the range. The range provides a quick measure of the dispersion or spread of the data, indicating how far apart the extreme values are from each other.

In calculating the range, you simply subtract the lowest value (the minimum) from the highest value (the maximum), which gives you a single value representing the total span of the data points. This measure is especially useful in understanding the variability within a data set at a glance.

While other statistical terms like variance, interquartile range, and standard deviation relate to the concept of data spread, they have different definitions and applications. Variance measures the average of the squared differences from the mean, interquartile range focuses on the spread of the middle 50% of the data, and standard deviation reflects the average distance of data points from the mean. Each serves a unique purpose but does not directly represent the simple difference between the maximum and minimum values.