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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.
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.
X 110 120 130 120 140 135 155 160 165 155 Y 12 18 20 15 25 30 35 20 25 10
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Standard Deviation The main drawback of the deviation measures of dispersion, as discussed earlier, is that the positive and negative deviations cancel out each other. Use of t
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