Ratio of Extremes

The Ratio of Extremes is a statistical measure that compares the largest value to the smallest value in a data set. It provides an indication of how spread out the data are by showing how many times bigger the maximum is relative to the minimum. For example, if the largest value is 100 and the smallest is 10, the ratio is 10:1. This measure helps identify the range of variation within the data, highlighting the degree of disparity between the highest and lowest observations.