A Leading E-Commerce Company is comparing the number of units sold for 3 Electronic Items. The mean number of units sold and the standard deviation in the number of units sold for each item are given below.
Calculate the Coefficient of variation and based on it, which item is the most inconsistent in terms of the number of units sold?
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The range and the mean deviation of data distributions serve their purpose in characterizing the spread of a distribution curve, but are very limited in their application and suffer from serious drawbacks. The Standard Deviation and coefficient of variation is, therefore, an improved measure of dispersion of a given dataset. Also, it can be used as a good parameter to characterize different curves. Explanation: Hope it is helpful to you Please make me brilliant
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