Coefficient of Variation Calculator

The “Coefficient of Variation Calculator” is a powerful tool designed to calculate the coefficient of variation for a given dataset. It helps measure the relative variability of a dataset by comparing the standard deviation to the mean.

Coefficient of Variation Calculator

Coefficient of Variation Calculator Tool

Steps to Solve the Coefficient Of Variation

The coefficient of variation (CV) is calculated by dividing the standard deviation (σ) of a dataset by the mean (μ) of the dataset and multiplying the result by 100 to express it as a percentage:

CV = (σ / μ) * 100

Example:

Let’s consider a dataset of 10 values: 5, 8, 12, 15, 20, 25, 28, 30, 35, 40.

Step 1: Calculate the Mean (μ):

Mean (μ) = (5 + 8 + 12 + 15 + 20 + 25 + 28 + 30 + 35 + 40) / 10 = 21.8

Step 2: Calculate the Standard Deviation (σ):

Using the formula for standard deviation, we calculate the deviations from the mean, square them, find the average of the squared deviations, and take the square root:

Deviation from the mean for each data point: (5 – 21.8) = -16.8 (8 – 21.8) = -13.8 (12 – 21.8) = -9.8 (15 – 21.8) = -6.8 (20 – 21.8) = -1.8 (25 – 21.8) = 3.2 (28 – 21.8) = 6.2 (30 – 21.8) = 8.2 (35 – 21.8) = 13.2 (40 – 21.8) = 18.2

Squared deviations: (-16.8)^2 = 282.24 (-13.8)^2 = 190.44 (-9.8)^2 = 96.04 (-6.8)^2 = 46.24 (-1.8)^2 = 3.24 (3.2)^2 = 10.24 (6.2)^2 = 38.44 (8.2)^2 = 67.24 (13.2)^2 = 174.24 (18.2)^2 = 331.24

Sum of squared deviations = 282.24 + 190.44 + 96.04 + 46.24 + 3.24 + 10.24 + 38.44 + 67.24 + 174.24 + 331.24 = 1250.76

Standard Deviation (σ) = √(Sum of squared deviations / Number of data points) = √(1250.76 / 10) = 11.18

Step 3: Calculate the Coefficient of Variation (CV):

CV = (σ / μ) * 100 = (11.18 / 21.8) * 100 ≈ 51.25%

Therefore, the coefficient of variation for the given dataset is approximately 51.25%.

This indicates that the dataset has a moderate degree of relative variability or dispersion compared to the mean value.

How to Calculate the Coefficient of Variation

To calculate the coefficient of variation (CV) for a given dataset, you need to follow these steps:

Step 1: Calculate the mean (μ) of the dataset. Add up all the values in the dataset and divide the sum by the total number of data points.

Step 2: Calculate the standard deviation (σ) of the dataset. The standard deviation measures the spread or dispersion of the data points around the mean. You can use the formula for standard deviation or utilize built-in functions in software or programming languages to compute it.

Step 3: Divide the standard deviation (σ) by the mean (μ).

Step 4: Multiply the result by 100 to express the coefficient of variation as a percentage.

The formula for calculating the coefficient of variation is:

CV = (σ / μ) * 100

Here’s an example to illustrate the calculation:

Dataset: 10, 15, 20, 25, 30

Step 1: Calculate the mean (μ): Mean (μ) = (10 + 15 + 20 + 25 + 30) / 5 = 20

Step 2: Calculate the standard deviation (σ): Using the formula for standard deviation, or any appropriate method, we calculate the standard deviation to be, let’s say, σ = 7.07

Step 3: Divide the standard deviation (σ) by the mean (μ): CV = σ / μ = 7.07 / 20 = 0.3535

Step 4: Multiply the result by 100 to obtain the coefficient of variation as a percentage: CV = 0.3535 * 100 = 35.35%

Therefore, the coefficient of variation for this dataset is approximately 35.35%.