1. What is the Coefficient of Variation?

The coefficient of variation (CV) is a standardized measure of dispersion of a probability distribution or frequency distribution. It is expressed as a percentage and is defined as the ratio of the standard deviation to the mean.

2. How Does the Calculator Work?

The calculator uses the coefficient of variation formula:

Where:

• \( s \) — Sample standard deviation
• \( \bar{x} \) — Sample mean

Explanation: The CV shows the extent of variability in relation to the mean of the population. It's useful for comparing the degree of variation between different datasets.

3. Importance of CV Calculation

Details: The coefficient of variation is particularly useful when comparing results from different tests or experiments with different measurement scales. It's commonly used in fields like finance, engineering, and laboratory sciences.

4. Using the Calculator

Tips: Enter the sample standard deviation and sample mean in the same units. Both values must be positive (mean must be greater than zero).

5. Frequently Asked Questions (FAQ)

Q1: What does a high CV indicate?
A: A high CV indicates greater variability relative to the mean, suggesting less consistency in the data.

Q2: When is CV most useful?
A: CV is most useful when comparing variability across datasets with different units or widely different means.

Q3: What's considered a "good" CV value?
A: This depends on the field. In analytical chemistry, CV < 10% is often considered acceptable, while in biology, higher values may be normal.

Q4: Can CV be negative?
A: No, since standard deviation and mean are always positive in this calculation, CV is always positive.

Q5: How does CV differ from standard deviation?
A: Standard deviation measures absolute variability, while CV measures relative variability (as a percentage of the mean).