Question

The coefficient of variation is ________________.

a. measured on a scale from 0 to 100.
b. a measure of correlation for two variables.
c. none of the options is correct.
d. helpful when the sample means are zero.
e. a unit-free statistic.

Answer 1

The coefficient of variation is a unit-free statistic that measures the relative variability of a data set in relation to its mean.

Step-by-step explanation:

The coefficient of variation is a unit-free statistic. It measures the relative variability of a data set in relation to its mean. The coefficient of variation is calculated by dividing the standard deviation of the data set by the mean and multiplying by 100 to express it as a percentage. A higher coefficient of variation indicates a greater degree of variability in the data set.

For example, if we have two data sets with the same mean but different standard deviations, the one with the higher standard deviation will have a higher coefficient of variation, indicating greater variability.

Therefore, the correct answer is e. a unit-free statistic.