Explanation Formula: The formula for coefficient of variation is as CV = Standard deviation mean ⋅ 100 % . Variability of two data sets: Variability gives a way to describe how much data sets are vary and allows using statistics to compare the data to other sets of data. Description: From the formula of the coefficient of variation, it is observed that it is unit less. That is, the standard deviation and mean must have the same units. The quality of unit less makes it different and more useful than standard deviation analysis. It can help demonstrate when distributions are considered low variance and when they are considered high variance

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ISBN: 9780134434681

Author: Tom Pirnot

Publisher: PEARSON

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Chapter 14.CT, Problem 6CT

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The reason for the coefficient of variation is the best measure to use when comparing the variability of two sets of data.

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The reason for the coefficient of variation is the best measure to use when comparing the variability of two sets of data.

Solution Summary: The author explains that the coefficient of variation is unit less and expresses the variability as a percent of the mean.

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To find:

The reason for the coefficient of variation is the best measure to use when comparing the variability of two sets of data.