Question

calculate standard error of mean and also the coefficient of variation in the no. of earthworm per m² in the garden A 27,45,25,35,30,40,45,2,25 and 38.​

Answer 1

Standard Deviation, Coefficient of Variation

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.

It builds upon the concept of the mean deviation and is actually the root mean squared deviation of a dataset. In financial markets, it is a common term used in deals involving stocks, mutual funds, ETFs and others. So now let’s understand what this important quantity actually means!