Variation Coefficient, Statistics, Basic Statistics

Assignment Help:
Variation Coefficient

The standard deviation discussed above is an absolute measure of dispersion. The corresponding relative measure is known as the coefficient of variation. This measure developed by Karl Pearson is the most commonly used measure of relative variation. It is used in such problems where we want to compare the variability of two or more than two series. That series (or group) 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 coefficient of variation is less is said to be less variable or more consistent more uniform more stable or more homogeneous coefficient of variation is denoted by C.V and is obtained as follows.

Coefficient of variation or C.V. = s = X x 100

It may be pointed out that although any measure of dispersion can be used in conjunction with any average in computing relative dispersion statisticians in fact almost always use the standard deviation as the measure of dispersion and the arithmetic mean as the average. When the relative dispersion is stated inters of the arithmetic mean and the standard deviation the resulting percentage is known as the coefficient of variation or coefficient of variability.

Related Discussions:- Variation Coefficient, Statistics

Generate samples for each distribution, Generate 1000 samples for each of t...

Generate 1000 samples for each of the following continuous random variables: (a). Exponential distribution with λ = 1.2 and λ = 2.1 (b). Normal distribution with μ = 3.1, σ

Prepares reports on gasoline prices , The average cost of a gallon of unlea...

The average cost of a gallon of unleaded gasoline in Greater Cincinnati was reported to be $2.41 (The Cincinnati Enquirer, February 3, 2006). During periods of rapidly changing pri

Average velocity profile-actual velocity profile, 1)  You are developing a ...

1)  You are developing a sampling protocol whereby you're going to insert a probe into a turbulent flow in a circular conduit of radius R. a. Using a description of a velocity p

What is an irrevocable letter of credit?, What is an irrevocable letter of ...

What is an irrevocable letter of credit? A permanent mail of credit score is a financial instrument used by banks to guarantee a customer's obligations to a supplier. It is perm

#piosson ditribution., Ask Suppose that the expected number of phone calls ...

Ask Suppose that the expected number of phone calls that are handel by a switchboard in each second is 5.35. Assume that the distribution of the number of phone calls per second fo

Determine the level of consumption, Suppose an individual has a lifetime ea...

Suppose an individual has a lifetime earnings profile and expects to live for 4 Periods:             Earnings in Period 1:   $30             Earnings in Period 2:   $60

Managing Ashland, calculate the probabilities correct to 6 decimal places. ...

calculate the probabilities correct to 6 decimal places. Let pie = 0.02. a. P(X less than 3,

Index numbers, discuss the considerations to be born in mind when constract...

discuss the considerations to be born in mind when constracting index numbers

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