The coefficient of variation is a relative measure of spread. It is calculated by:
Coefficient of variation = (σ ÷ x̄) × 100%
It is used when we compare the spread of two data sets with different units, or with very different means, because the standard deviation alone can be misleading.
The data set with the smaller coefficient of variation is relatively more consistent.
Advanced Measures of Dispersion · 3 / 7
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