STATISTICAL TECHNIQUES AND TOOLS
COEFFICIENT OF VARIATION DISCRETE SERIOUS AND CONTINUOUS SERIOUS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A and B are both sets of ratio-level data. A has a mean of 12 and a standard deviation of 0.6. B has a mean of 6 and a standard deviation of 0.4 ____ Use the Coefficient of Variation to determine which set has more variation.
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Set A
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Set B
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They have the same variation
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It is impossible to tell with this information
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Explanation:
Detailed explanation-1: -The formula for the coefficient of variation is: Coefficient of Variation = (Standard Deviation / Mean) * 100. In symbols: CV = (SD/x̄) * 100. Multiplying the coefficient by 100 is an optional step to get a percentage, as opposed to a decimal.
Detailed explanation-2: -The standard deviation is a number that measures how far data values are from their mean. The standard deviation provides a numerical measure of the overall amount of variation in a data set, and can be used to determine whether a particular data value is close to or far from the mean.
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