What is the difference between the highest and lowest values in a dataset called?

The difference between the highest and lowest values in a dataset is known as the range. The range provides a measure of how spread out the values in a dataset are, offering insight into the variability of the data. To calculate the range, one subtracts the minimum value from the maximum value, which illustrates the extent of the data's distribution.

In contrast, the median refers to the middle value in a dataset when it is ordered from least to greatest. The mean is the average of all values in the dataset, computed by adding all values together and dividing by the total number of values. The mode signifies the most frequently occurring value within the dataset. Each of these terms serves a different purpose in statistical analysis, but it is the range that specifically addresses the difference between the highest and lowest values.