What term refers to the statistical value that shows the difference between the highest and lowest values in a set?

The term that reflects the difference between the highest and lowest values in a data set is known as the range. This statistical measure provides a quick sense of the spread or dispersion of the values within the set. By calculating the range, you subtract the minimum value from the maximum value, which highlights the extent of variability and helps identify how widely the values are distributed.

Understanding this measurement is essential in data analysis, as it offers insight into the overall distribution of the data without requiring a detailed examination of each individual value. In contrast, the other terms refer to different statistical concepts: standard deviation measures the average distance of each data point from the mean, mean represents the average of the data, and mode identifies the most frequently occurring value in the set. Each of these serves distinct purposes but does not directly indicate the span between the smallest and largest values as the range does.