1. What is Coefficient of Variation?

The Coefficient of Variation (CV) is a standardized measure of dispersion of a probability distribution. It shows the extent of variability in relation to the mean of the population.

2. How Does the Calculator Work?

The calculator uses the CV formula:

Where:

• \( \sigma \) — Standard deviation
• \( \mu \) — Mean

Explanation: The CV is calculated by dividing the standard deviation by the mean and multiplying by 100 to express it as a percentage.

3. Importance of CV Calculation

Details: CV is particularly useful when comparing the degree of variation from one data series to another, even if the means are drastically different from each other.

4. Using the Calculator

Tips: Enter standard deviation and mean values. Both must be positive numbers. The result is expressed as a percentage.

5. Frequently Asked Questions (FAQ)

Q1: When is CV most useful?
A: CV is most useful when comparing variability between datasets with different units or widely different means.

Q2: What is considered a good CV value?
A: It depends on the field, but generally, lower CV indicates less variability relative to the mean. Below 10% is often considered low variability.

Q3: Can CV be negative?
A: No, because standard deviation and mean are always positive in this calculation.

Q4: What are limitations of CV?
A: CV should not be used for data with a mean close to zero, as it can produce misleadingly high values.

Q5: How does CV compare to standard deviation?
A: While standard deviation measures absolute variability, CV measures relative variability, making it unitless and comparable across different scales.