Asked by Andrew Crawford on Sep 23, 2024
Verified
The coefficient of variation is a measure of variability.
Coefficient of Variation
A normalized measure of dispersion of a probability distribution, calculated as the ratio of the standard deviation to the mean, usually expressed as a percentage.
Variability
The extent to which data points in a dataset differ from each other and from the mean of the dataset.
- Recognize the coefficient of variation as a vital measure of variability, especially in comparing data sets with vastly different means.
Verified Answer
JE
Jaden Elzie6 days ago
Final Answer :
True
Explanation :
The coefficient of variation (CV) is a statistical measure of the dispersion of data points in a data series around the mean. It is calculated as the ratio of the standard deviation to the mean, expressed as a percentage. Therefore, it is a measure of variability.
Learning Objectives
- Recognize the coefficient of variation as a vital measure of variability, especially in comparing data sets with vastly different means.