What are the differences among the various measures of variation, such as the range, interquartile range, variance, and standard deviation?
In this discussion, you will share with your peer your thought on the following questions:
- What are the differences among the various measures of variation, such as the range, interquartile range, variance, and standard deviation?
- What are the advantages and disadvantages of each, using your own real-world example?
- How would you apply these concepts in a unique business scenario?
