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Deadband is also known as hysteresis and is the amount of a measured variable (pressure, temperature, etc.) between the point where a switch closes and then re-opens. It can be implemented is software if you have an analog input (i.e., open at 1.02 PSI, close at 0.98 PSI) or designed into a switching mechanism. Often the deadband of a switch is fixed and cannot be adjusted. A typical example is in a wall thermostat in your house.
Murphy oil pressure gauges with switches that activate on low pressure. A pressure switch is a form of switch that closes an electrical contact when a certain set pressure has been reached on its input. The switch may be designed to make contact either on pressure rise or on pressure fall.