Understanding Data

To determine the spread of a data set, particularly the difference between the maximum and minimum values, the statistical technique used is called the "Range." The range is a measure of dispersion that shows the extent of variation in the data set.

The range is calculated using the formula: Range = Maximum Value - Minimum Value.

In the context of stock prices for a company over a week, calculating the range provides the spread of stock prices in that period. This information helps in understanding the volatility or consistency of the stock's performance.

Given the context of the question, the correct statistical technique to find the difference between maximum and minimum stock prices is the Range.

The term that is the positive square root of the average of squared differences of each value from the mean is called the Standard Deviation.

Here's why: to compute the standard deviation, follow these steps:

• Calculate the mean (average) of the data set.
• Subtract the mean from each value in the data set and square the result (the squared difference).
• Find the average of these squared differences; this is known as the variance.
• The standard deviation is the positive square root of the variance.

Therefore, the correct answer is Standard Deviation.

(1) Information: Information is processed, organized, and structured data that provides context and meaning. It's the result of processing data, not the unorganized facts themselves.

(2) Data: Data is the raw, unorganized facts, figures, symbols, and details that can be processed to create meaningful information. It's the input for information processing.

(3) Blog: A blog is a website or online journal where individuals or groups can share their thoughts, experiences, and opinions on various topics. It is not the source of unorganized facts, although a blog can contain both data and information.

(4) Contexts: Context refers to the circumstances or settings surrounding an event, statement, or idea. It doesn't represent the unorganized facts themselves.

Therefore, (2) Data are the unorganized facts that can be processed to generate meaningful information.