For a data set, the coefficient of range is 0.5. The largest observation is 12. Find the smallest observation.
Range is the
(a) difference between the largest and the smallest observations
(b) difference between the smallest and the largest observations
(c) average of the largest and the smallest observations
(d) ratio of the largest to the smallest observation
Statement 1: Range of a data set gives the measure of its spread.
Statement 2: Range of a data set is given by: Highest observation + Lowest Observation.
Which of the above statements are true?