In a simple survey based on 100 families in an area.it was found that they had on a average 14.8 medcine on hand.if the coefficient of variance is 20 percent what is the variance of simple data
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The coefficient of variation (CV) is a measure of relative variability. It is the ratio of the standard deviation to the mean (average). For example, the expression “The standard deviation is 15% of the mean” is a CV.
The CV is particularly useful when you want to compare results from two different surveys or tests that have different measures or values. For example, if you are comparing the results from two tests that have different scoring mechanisms. If sample A has a CV of 12% and sample B has a CV of 25%, you would say that sample B has more variation, relative to its mean.
Formula
The formula for the coefficient of variation is:
Coefficient of Variation = (Standard Deviation / Mean) * 100.
In symbols: CV = (SD/xbar) * 100.
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