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Midrange
The midrange is the measure of the center that is the value midway between the highest and the lowest values in the original data set. It is found by adding the highest data value to the lowest data value and after which dividing the sum by 2, as in the following formula.
Midrange = (highest value + lowest value) / 2
Example is as follows
Listed below are measured amounts of lead ( in mg/m3 ) in the air from the site of the World Trade Center on different days after September 11, 2001. Find the midrange for this sample.
5.40 1.10 0.42 0.73 0.48 1.10
Solution can be given by
(5.40 + 0.42) / 2 = 2.9102
Difference between historigram and histogram
Any time period specific for which economical reports are prepared. Talk about FISCAL PERIOD.
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