Coefficient Of Range Calculator



COR:

 

Introduction

The Coefficient of Range (COR) is a statistical measure that quantifies the relative dispersion of data by comparing the range between the largest and smallest values. It is a valuable tool for understanding the variability within a dataset. In this article, we’ll explain how to calculate the Coefficient of Range, provide the formula, and walk you through an example.

How to Use

The Coefficient of Range helps assess the variability in a dataset, which can be particularly useful in various fields such as economics, finance, and quality control. To calculate the COR, you’ll need to know the largest (L) and smallest (S) values in the dataset. Here’s how to do it step by step:

  1. Identify the largest item (L) in your dataset.
  2. Determine the smallest item (S) in your dataset.
  3. Use the formula COR = (L – S) / (L + S) to calculate the Coefficient of Range.
  4. Interpret the result: A larger COR indicates a wider dispersion, while a smaller COR suggests a narrower spread within the dataset.

Formula

The formula for calculating the Coefficient of Range (COR) is:

COR = (L – S) / (L + S)

Where:

  • COR is the Coefficient of Range.
  • L is the largest item in the dataset.
  • S is the smallest item in the dataset.

Example

Let’s work through an example to illustrate how to calculate the Coefficient of Range (COR).

Suppose you have a dataset of the following values:

  • Largest item (L): 80
  • Smallest item (S): 20

Using the formula:

COR = (80 – 20) / (80 + 20) = 60 / 100 = 0.6

So, the Coefficient of Range (COR) for this dataset is 0.6.

FAQs

Q1: What does a high Coefficient of Range (COR) indicate?

A1: A high COR suggests a wide dispersion in the dataset, meaning there is significant variability between the largest and smallest values.

Q2: What is the significance of the Coefficient of Range in statistics?

A2: The COR is a useful measure to assess the spread or variability of data. It helps in understanding the distribution of values in a dataset.

Q3: Can the Coefficient of Range be negative?

A3: No, the COR is always a non-negative value, as it measures the relative spread between the largest and smallest values.

Conclusion

The Coefficient of Range is a valuable statistic for assessing the dispersion of data in a dataset. By comparing the range between the largest and smallest values, it provides insights into the variability of the data. Understanding and using the COR can be particularly helpful in various fields, including data analysis, quality control, and finance.

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