(i. If two sets of data are in different units, we can compare the dispersion by using coefficient of variation. (ii) A study is made of the commissions paid to furniture salespersons. If the standard deviation is computed, it would be measured in dollars squared.
(iii) The coefficient of variation is a measure of relative dispersion.
A) (i), (ii) and (iii) are all correct statements
B) (i) and (ii) are correct statements but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements, but not (i).
E) (i), (ii) and (iii) are all false statements.

Question

Quizplus · Accepted Answer

Statement (i) is true because coefficient of variation is used to compare dispersion of datasets in different units. 
Statement (ii) is false because standard deviation is always measured in the same unit as the data, not in dollars squared.
Statement (iii) is true because the coefficient of variation measures the dispersion relative to the mean, allowing for comparison across datasets with different units.

(I If Two Sets of Data Are in Different Units