What is(are)the characteristic(s)of the coefficient of variation?
A) It adjusts for differences in the magnitude of means.
B) It has the same units of measurement as the observations.
C) It allows for direct comparisons across different data sets.
D) Both it adjusts for differences in the magnitude of means and it allows for direct comparisons across different data sets.

Question

Quizplus · Accepted Answer

The coefficient of variation (CV) adjusts for differences in the magnitude of means and allows for direct comparisons across different data sets. It is a relative measure of variability that is calculated as the standard deviation divided by the mean multiplied by 100. As such, it is unitless and can be used to compare the variability of observations with different units of measurement. The CV is commonly used in fields such as biology, engineering, and finance to compare the variability of different data sets.

What Is(are)the Characteristic(s)of the Coefficient of Variation