The formula for the coefficient of variation says cv standard deviation mean 100. Coefficient of variation is an absolute measure of variation and is used for the comparison of variability between two or more frequency distribution.
Compute the mean of the data.
Coefficient of variation example for grouped data. The formula can be replaced with σ μ when dealing with a population. For the pizza delivery example the coefficient of variation is 0 25. In reality the mean can be zero at times depending on the sample data.
For the school year 2013 2014 this tutorial has to be covered by students during week oct 15 oct 18 this tutorial is part of the ap statistics course at galena park high school in this section you learned how to find the variance and the standard deviation for grouped data and how to estimate its variability using the coefficient of variation. This value tells you the relative size of the standard deviation compared to the mean. The formula for coefficient of variation is given below.
Unlike the standard deviation standard deviation from a statistics standpoint the standard deviation of a data set is a measure of the magnitude of deviations between values of the observations contained that must always be considered in the context of the mean of the data the coefficient of variation provides a relatively simple and quick. Let x i f i i 1 2 cdots n be given frequency distribution. Procedure to follow while calculating the coefficient of variation.
Let x i f i i 1 2 cdots n be given frequency distribution. Coefficient of variation is given by cv dfrac s x overline x times 100 where overline x dfrac 1 n sum i 1 n f ix i is the sample mean of x n total number of observations. If the mean becomes zero then cv does not get a finite value.
In this example the standard deviation is 25 the size of the mean. Mathbf coefficient of variation frac standard deviation mean times 100 as per sample and population data type the formula for standard deviation may vary. Coefficient of variation formula text cv cfrac s text x where s is the standard deviation of a sample.
Coefficient of variation for grouped data. Interpreting the coefficient of variation. Coefficient of variation for grouped data.
Analysts often report the coefficient of variation as a percentage. Hence the value of cv depends on both the standard deviation and the mean. When the value of the coefficient of variation is lower it means the data has less variability and high stability.
Coefficient of variation is given by cv dfrac s x overline x times 100 where. And x is the mean of the sample.