Coefficient Of Variation Calculator

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.

Well, give a read to this article to learn how to find variance of coefficient and even about this fastest tool.

Now, let’s start with some basics!

What is Coefficient of Variation (CV)?

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.

According to Investments theory, the coefficient of variance assists in determining which investment is better.

Also, the calculator-online provides you with a free covariance calculator that helps to find the covariance between two random variables X and Y in both probability & statistics experiments.

What is Coefficient of variation formula:

As mentioned-above, CV is the ratio of the standard deviation to the mean, so:

CV = σ/ μ

Where;

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

Coefficient of Variation Calculator:

An online advanced coefficient variation calculator will calculate the ratio of standard deviation (σ) to mean (μ). In simple words, this calculator finds the CV for a range of values, usually for a population or sample data set. You can use this coefficient of variance calculator to find the relative measure of dispersion or degree of variations to analyze different sample distributions to adopt the best competing model that has a lesser degree of uncertainty or variability which is very close to the mean (μ). The calculator helps to find the percent of variation calculator (COV %), No. of samples, Mean, Standard deviation, C.O.V & C.O.V % for the given statistical data values.

How to find the coefficient of variation with this Coefficient of variation calculator:

The CV calculator online is 100% free that tells you to know how much a data set varies across a population and sample. Just follow the given steps to obtain the precise measurements for the coefficient of variance calculations.

Calculation For Raw Data:

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:

Inputs: Data for Means:

• First of all, you have to select the “Mean” option form the given drop-down menu
• Very next, you ought to choose the dataset type, it can be either “Population” or “Sample”
• Finally, enter the dataset numbers into the given box of this tool

Inputs: Data for Proportion:

• First of all, you need to choose the “Proportion” option form the designated drop-down menu
• Now, you have to select the dataset type, it either be in “Population” or “Sample”
• Very next, you have to add sample size (n) into the designated field
• Now, you have to choose proportions data from the drop-down menu, it can either ‘ Proportion e.g. 0.05’ or ‘Rate as Percentage e.g. 5%’ or ‘Number of Events e.g. 10’
• Then, you have to enter the “Event Proportions” or “Event Rate %” or “Number of events” for the selected proportions data
• Now, hit the calculate button of this COV calculator

Outputs:

The proportion of variance calculator calculates the same statistical values for both data for proportion and data for mean:

• No. of samples
• Mean (μ)
• Standard deviation (σ)
• Coefficient Of Variance
• Also, this percentage of variation calculator calculate the “Coefficient Of Variance %”

Calculation from Summary Data:

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:

Inputs:

• You have to select dataset type, choose whether your data represents a population or sample
• Now, you have to add the mean of the data set
• Very next, you have to add the standard deviation of the data set
• Finally, hit the calculate button of this calculator for covariation

Note: When you select dataset type “sample”, then you also have to add sample (n) into the designated field of the cov calculator

Outputs:

Whether you make a calculation for data for raw and summary data set, the (CV) coefficient of variation calculator will calculate the same statistical parameters for data set ranges:

How to Calculate Coefficient of Variation (Step-by-Step)?

You just have to remember the above formulas while calculating coefficient of variation of the sample data.

• First of all, you have to calculate the mean of the data set
• Right after, you have to calculate the sample standard deviation for the data set
• Finally, you have to find the ratio of sample standard deviation to mean to get the CV of the data set

Example Problem For Coefficient of Variation:

Problem:

Find the coefficient of variance for the samples 62.25, 60.36, 64.28, 61.24, and 66.24 of a population.

Solution:

First, calculate Mean:

Mean = (62.25 + 60.36 + 64.28 + 61.24 + 66.24)/5

= 314.37/5

=62.874

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)

= √5.67158

SD = 2.38150

Finally, Calculate (CV):

CV = Standard Deviation/ Mean

Put the values into the coefficient of variation equation:

= 2.38150/62.874

CV = 0.037877

Coefficient of Variation (CV) and Relative Standard Deviation:

No doubt, the (CV) coeffcieint of variation is very similar to the relative standard deviation (RSD), but the only prominent difference between both that the coefficient of variance can be negative, while RSD is always positive.

The CV is the statistic that will tell you whether the mean is negative or positive:

• A positive mean results in a positive Cv
• A negative mean results in a negative Cv

However, the RSD or relative standard deviation will take into account when you see the mean ± standard deviation (e.g., 11 ± 2% cm).

In simple terms, this

FAQ’s:

How do you calculate the coefficient of variation?

σ is represented as the standard deviation for a population that is the same as ‘s’ for the sample. μ is said to be the mean for the population that is the same as x̅ in the sample. In simple words, to calculate CV, you just have to divide the standard deviation by the mean and multiply by 100.

The coefficient of variance formula is:

Cv = (s / x̅) * 100%

How do you calculate CV %?

You can easily calculate CV% as the ratio of the standard deviation of the sample to the mean of the sample that represented as a percentage. All you need to add the values in your dataset and divide the result by the number of values to attain the sample mean.

Is coefficient of variation a percentage?

Simply, the percentage of CV plot point refers to the subgroup sample standard deviation divided by the subgroup means, and multiplied by 100. In effect, the %CV is said to be the percentage of the mean represented by the standard deviation – a relative measure of variation.

What is the difference between variance and coefficient of variation?

Remember that standard deviation (SD) is very sensitive to extreme values (outliers) in the data. However, there are certain useful measures of dispersion that are related to the SD:

Variance: The variance is said to be as just the square of the SD. For the instance, the variance = 〖(14.42 )〗^2 = 207.36

CV: The (CV) is the standard deviation divided by the mean. For the instance, CV = 14.4/98.3 = 0.1465, or 14.65 percent.

Can CV be greater than 1?

The standard deviation or SD of an exponential distribution of data is equivalent to its mean that making its CV to equalize 1. According to optimistic studies, distributions with a CV to be less than 1 are indicated as a low-variance, and those with a CV higher than 1 indicated as high-variance.

Why do we use the coefficient of variation or CV?

The CV represents the ratio of the standard deviation to the mean, and it is a statistic that is very useful for comparing the degree of variation from one data series to another, even if the means are drastically varying from one another.

How to Interpret Coefficient of Variation:

The coefficient of variation (CV) represents what percentage of the mean the standard deviation is. More specifically, the CV is something that indicates how large the standard deviation is in relation to the mean. If the CV is 0.45 (or 45%), this means that the size of the standard deviation is 45% that of the mean.

However, if the CV is 0.46 (or 46%), then it is said to be the standard deviation is 46% that of the mean.

Is a higher coefficient of variation better?

The CV is said to be the ratio of the standard deviation to the mean. However, remember that the higher the coefficient of variation, the greater the level of dispersion around the mean.

How much variance is acceptable?

The acceptable variance is said to be 60 percentage as it is explained in factor analysis for a construct to be valid, is said to be as 60 %.

How to find a coefficient of variation in excel?

You can easily calculate the coefficient of variation (COV) in Excel by simply using the formulas for standard deviation and mean.

• For a given column of data (i.e. A1:A10), you just need to enter: “=stdev(A1:A10)/average(A1:A10)), and then simply multiply by 100

Why do we need coefficient of variation?

The C.O.V indicates the ratio of the standard deviation (SD) to the mean, and it is said to be a useful statistic for comparing the degree of variation from one data series to another. Even, C.O.V is useful if the means are drastically different from one another.

Few Words By Calculator-Online:

Keep in mind; the relative variability calculation is typically used in analytical chemistry, engineering and physics, factory production quality assurance etc. Also, it is taken into account for economists and social studies for economic, organizational and financial models. So, use the above formulas and to get instant results you can use the above coefficient calculator.

References:

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!

Institute for Digital Research & Education (Statistical Consulting) – FAQ: Situations and Definitions About THE COEFFICIENT OF VARIATION

MathisFun – Probability and Statistics – Standard Deviation and Variance – The Way to Find Variance