A range is an interval that defines the minimum and maximum values for any set of numbers or for the variation of a particular variable -- a stock price on the market, for example. The per cent relative range refers to the percentage ratio of the range to the average value in the set.
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Sum up the maximum and minimum values in the range. For example, if the stock price changes in the range from £22.5 to £26.7 then £22.5 + £26.7 = £49.2.
Divide the sum by two to calculate the average value. In the example, the average price is £49.2 /2 = £24.6.
Subtract the minimum value from maximum one to calculate the range. In this example, the range is £26.7 - £22.5 = £4.10.
Divide the range by the average value, and then multiply the result by 100 to calculate the relative per cent range. In this example, the relative per cent range is ($6.44 / £24.6) x 100 = 16.99 per cent.
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