Answer:
Explanation:
The coefficient of variation (CV) is a measure of the relative variability of a set of data. It is calculated as the ratio of the standard deviation to the mean, expressed as a percentage. The formula for calculating the CV is as follows:
CV = (Standard Deviation / Mean) * 100%
Here's how to calculate the CV step by step:
Calculate the mean: To find the mean, add up all the data points and divide by the number of data points. This will give you the average value of the data set.
Calculate the standard deviation: The standard deviation is a measure of the variability of a set of data. To calculate it, subtract each data point from the mean and square the result. Then add up the squared deviations and divide by the number of data points minus one. Finally, take the square root of the result to obtain the standard deviation.
Calculate the CV: Finally, divide the standard deviation by the mean and multiply by 100% to obtain the CV.
The CV is a useful measure when comparing data sets with different units of measurement or when comparing the variability of data sets with different means. It gives an indication of the degree of variation in the data set relative to the mean, with higher CV values indicating a higher degree of variability.
It is important to note that the CV should not be used to compare data sets with very different means, as it can be misleading in such cases. In those cases, it is better to use the standard deviation or other measures of variability.