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Table of Content
|1||What is priceeight Class?|
|2||priceeight Class Chart:|
|3||How to Calculate priceeight Density (Step by Step):|
|4||Factors that Determine priceeight Classification:|
|5||What is the purpose of priceeight Class?|
|6||Are mentioned priceeight Classes verified by the officials?|
|7||Are priceeight Classes of UPS and FedEx same?|
An online coefficient of variation calculator helps to calculate coefficient of variation corresponding to the given date set values. The coefficient of variance (CV) is the ratio of the standard deviation to the mean (average). For instance, the standard deviation (SD) is 17% of the mean, is a CV. Also, the coefficient of variance calculator allows you to calculate coefficient of variation (CV, RSD) of continuous data or binomial (rate, proportion) data.
The (CV) indicate as a statistical measure of the dispersion of data points in a data series around the mean. According to probability theory and statistics, it is the ratio of the standard deviation to the mean, and also known as relative standard deviation (RSD). In other words, CV is the measure of relative variability.
As mentioned-above, CV is the ratio of the standard deviation to the mean, so:
CV = σ/ μ
CV = Coefficient of Variation
σ = Standard Deviation
μ = Mean
Formula to calculate Standard Deviation:
σ = √((∑▒〖(x- μ)^2 〗)/(n-1))
Formula to calculate Mean:
μ = (∑▒x)/n
If you are going to enter raw data, then you ought to select ‘raw data’ option from this sample coefficient of variation calculator, and stick to these steps:
The proportion of variance calculator calculates the same statistical values for both data for proportion and data for mean:
If you are going to enter summary data, then you ought to select a ‘summary data’ option. This coefficient of variation calculator with mean and standard deviation (mean sd cv calculator) shows you the accurate results for the summary data. Just stick to the given inputs:
Whether you make a calculation for data for raw and summary data set, the cv calculator will calculate the same statistical parameters for data set ranges:
Find the coefficient of variance for the samples 62.25, 60.36, 64.28, 61.24, and 66.24 of a population.
First, calculate Mean:
Mean = (62.25 + 60.36 + 64.28 + 61.24 + 66.24)/5
Second, calculate Standard Deviation:
SD = √( (1/(5 – 1)) * 〖(62.25- 62.874)〗^2 + 〖(60.36- 62.874)〗^2 + 〖(64.28- 62.874)〗^2 + 〖(61.24 – 62.874)〗^2 + 〖(66.24- 62.874)〗^2)
= √( (1/(4) * 〖(-0.624)〗^2 + 〖(-2.514)〗^2 + 〖(1.406)〗^2 + 〖(-1.634)〗^2 + 〖(3.366)〗^2)
= √ ( (1/(4) * (0.389376) + (6.320196) + (1.976836) + (2.669956) + (11.329956)
SD = 2.38150
Finally, Calculate (CV):
CV = Standard Deviation/ Mean
Put the values into the coefficient of variation equation:
CV = 0.037877
From Wikipedia, the free encyclopedia – According to The Theory And Statistics, The Coefficient of Variation (CV)
By ADAM HAYES – Reviewed By PETER WESTFALL – Financial Analysis – What does the coefficient of variation tell you!