Steps to Calculate the Coefficient of Variation
For the steps to calculate the coefficient of variation let’s watch an example.
Example: Two boys are playing games cricket and football the scores scored by the boys are as follows:-
| Football | Cricket | |
| Mean | 24 | 46 |
| SD | 13 | 35 |
Step 1: Now, divide the standard deviation by mean for sample 1 (football)
13/24 = 0.5416
Step 2: Now, multiply step 1 with 100
0.5416×100=54.16%
Step 3: Now for sample 2, divide the standard deviation by mean
35/46=0.7608
Step 4: Now, multiply step 2 with 100
0.7608×100= 76.08%
How to calculate Coefficient of Variation?
How to calculate the Coefficient of Variation? Statistics is the process by which the data is collected and analyzed. The coefficient of variation in statistics is explained as the ratio of the standard deviation to the arithmetic mean, for instance, the expression standard deviation is 15 % of the arithmetic mean is the coefficient variation.
This article provides the steps to calculate the coefficient of variation along with solved examples and practice problems.
Table of Content
- What is the Coefficient of variation?
- Steps to Calculate the Coefficient of Variation
- How to calculate Coefficient of Variation in context to Finance
- Sample Problems on How to calculate Coefficient of Variation
- Practice Problems on How to calculate Coefficient of Variation?
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