An insurance company records the claim amounts (in ₹) of 1,000 policyholders in a…

MATHEMATICS · Subjective · A Level · Mathematics · Data presentation and interpretation · Data presentation and interpretation

Problem

An insurance company records the claim amounts (in ₹) of 1,000 policyholders in a given year. A few extremely large claims are present. Which measure of dispersion—range or standard deviation—would give a more reliable idea of the typical spread of the data? Give one reason for your choice.

Related theory

Browse the problem library