Range | Vose Software

Range

See also: Statistical descriptions of model outputs, Variance, Inter-percentile range, Mean deviation (MD)

The range of an output is the difference between the maximum and minimum generated values. This is almost never a useful measure since it is completely dependent on just the two extreme values (which are, after all, randomly generated and could often take a wide range of legitimate values for any particular model).

Read on: Inter-percentile range

 

ModelRisk

Monte Carlo simulation in Excel. Learn more

Spreadsheet risk analysis modeling

Tamara

Adding risk and uncertainty to your project schedule. Learn more

Project risk analysis

Navigation

Enterprise Risk Management software (ERM)

Learn more about our enterprise risk analysis management software tool, Pelican

Enterprise risk management software introduction