What Does Coefficient Of Variation Mean?


1 Answers

Ellie Hoe Profile
Ellie Hoe answered
The concept of coefficient of variation is related with probability theory in statistics. It is a measure of the dispersion of a probability distribution. It is calculated as the ratio of the standard deviation to the mean. Coefficient of variation of a non-zero mean is only defined and for the positive variables it is very useful. It is also called as unitized risk. Though it is not defined for data on an interval scale but it can be computed for data measured on a ratio scale.

Answer Question