1. What is Coefficient of Variation?

The coefficient of variation (CV) is a standardized measure of dispersion of a probability distribution or frequency distribution. It shows the extent of variability in relation to the mean of the population.

2. How Does the Calculator Work?

The calculator uses the CV formula:

Where:

• \( \sigma \) — Standard deviation
• \( \mu \) — Mean

Explanation: The CV is useful because the standard deviation of data must always be understood in the context of the mean of the data.

3. Importance of CV Calculation

Details: CV is particularly useful when comparing the degree of variation from one data series to another, even if the means are drastically different from each other.

4. Using the Calculator

Tips: Enter standard deviation and mean values 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 a high level of dispersion around the mean. It means the data is more variable relative to the mean.

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

Q3: What are typical CV values?
A: In most applications, a CV < 15% is considered low variability, 15-30% moderate, and >30% high variability.

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

Q5: What are limitations of CV?
A: CV should not be used for interval scale data that can take negative values or when the mean is close to zero.