Coefficient of variation, Applied Statistics

Assignment Help:

Coefficient of Variation

The standard deviation discussed above is an absolute measure of dispersion. The corresponding relative measure is known as the coefficient of variation. This relative measure of dispersion based upon standard deviation is also called coefficient of standard deviation.

Coefficient of Variation = Standard Deviation / Mean x 100

It is used in such problems where we want to compare the variability, homogeneity, stability, uniformity and consistency of two or more series. That series for which the coefficient of variation is greater is said to be more variable or conversely less consistent, less uniform, less stable or less homogeneous. On the other hand, the series for which the Coefficient of Variation is less, is said to be less variable or more consistent, more uniform, more stable or more homogeneous.

 


Related Discussions:- Coefficient of variation

Team Collaboration: Business Decision Making Project, Collect data about th...

Collect data about the chosen business problem or opportunity at the company. Explain how you obtained a suitable sample of either qualitative or quantitative data. Review data f

Statistics assignment, To compare three brands of computer keyboards, four ...

To compare three brands of computer keyboards, four data entry specialists were randomly selected. Each specialist used all three keyboards to enter the same kind of text material

Calculation of degrees of freedom, Calculation of Degrees of Freedom Fi...

Calculation of Degrees of Freedom First we look at how to calculate the number of DOF for the numerator. In the numerator since we calculate the variance from the sample means,

Find the unbiased estimators for mean and variance matrix, Is the random ve...

Is the random vector (Trunk Space, Length, Turning diameter) of US car normally distributed? Why? If yes, find the unbiased estimators for the mean and variance matrix of (Trunk Sp

Regression, The 4 assumptions of regression: 1.       Variables are norm...

The 4 assumptions of regression: 1.       Variables are normally distributed 2.       Linear relationship between the independent and dependent variables 3.       Homosced

Sample, You want to know the thoughts of air travelers in fields such as ti...

You want to know the thoughts of air travelers in fields such as tickets, comffort, safety, securuty, services and economic growth. You are given a database and 20 questions to ask

Distribution of sample means, 1. Use the concepts of sampling error and z-s...

1. Use the concepts of sampling error and z-scores to explain the concept of distribution of sample means. 2. Describe the distribution of sample means shape for samples of n=36

Advantages of sampling, Advantages of Sampling Why should we settle on ...

Advantages of Sampling Why should we settle on a sample instead of studying the entire population?  Sampling has the following advantages over a census (study of the entire pop

Standard gaussian random variable , You will recall the function pnorm() fr...

You will recall the function pnorm() from lectures. Using this, or otherwise, Dteremine the probability of a standard Gaussian random variable exceeding 1.3.  Using table(), or

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd