Variance measures volatility or dispersion of how far are the observations from the expected mean, it is calculated from the mean as average squared deviation and is always positive. Large values of the variance denote large dispersions, which implies the mean of the data set is not a good representation of the observed data. Sale per customer has a moderate dispersion of 35 while customer number shows large dispersion of 477.147 (Bennett, 2006, p. 59).
The minimum value denotes the least or the smallest value in the observations of the data set. The minimum values for the sale per customer and number of customers are $1 and 1 respectively. Maximum value denotes the largest value in the observations of the data set. The maximum values for the sale per customer, and the number of customers is $20and 75 respectively. The two extreme values of the maximum and minimum are crucial in calculating the range of the observations since the range is their difference between the two statistics. (Bennett, 2006, p. 91).
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