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Why is range of a data set not good predictor of variability

Question: Four sets are listed in the table below. Each set represents a sample. Find the range, mean, and standard deviation for each set. Use your results to fill in the table.

Set:

f1; 2; 98; 100g
f1; 49; 51; 100g
f1; 25; 75; 100g
f1; 40; 60; 100g

Based on your results above, please answer the following questions:

(1) Why is the range of a data set not a good predictor of variability?

(2) Why is the mean of a data set not a good predictor of variability?

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Accounting Basics: Why is range of a data set not good predictor of variability

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Accounting Basics: Why is range of a data set not good predictor of variability

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