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 is often 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:

• \( \sigma \) — Standard deviation
• \( \mu \) — 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 data sets.

3. Importance of CV Calculation

Details: CV is particularly useful when comparing results from different tests or experiments with different units or widely different means. It's commonly used in analytical chemistry, quality control, and investment analysis.

4. Using the Calculator

Tips: Enter the mean and standard deviation values in the same units. Both values must be positive (mean > 0, standard deviation ≥ 0).

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, suggesting greater variability in the data set.

Q2: What is considered a good CV value?
A: This depends on the field. In analytical chemistry, CV < 5% is often considered acceptable, while in biological studies, higher values may be expected.

Q3: When should I use CV instead of standard deviation?
A: Use CV when you want to compare variability between data sets with different units or significantly different means.

Q4: Can CV be negative?
A: No, since both standard deviation and mean are always non-negative in this context, CV is always ≥ 0%.

Q5: What are the limitations of CV?
A: CV should not be used for data sets with mean values close to zero, as it becomes unstable. It's also not meaningful for interval scales that don't have a true zero.