Coefficient of variance is defined as the ratio of the standard deviation σ to the mean μ. Coefficient of variance is a statistical measure of the dispersion of data points in a data series around the mean. The coefficient of variance is measured as the standard deviation divided by the mean. It is also sometimes expressed as a percentage form. The coefficient of variation should only be computed for data measured on a ratio scale.
The coefficient of variation is an attribute of a distribution. The online Coefficient of variance Calculator is used to calculate and find the coefficient of dispersion of a probability distribution by just entering the set of numbers that are separated by the comma.
Example:
Calculate the coefficient of Variance for the given details.
Enter the range of values (seperated by comma) = 1, 2, 1,5,1,6,8,2,0
Solution:
Apply Formula:
Cv = σ / μ
Cv = 0.34523781368171763
Variance Coefficient (CV) = 0.34523781368171763