This Coefficient of Variation Calculator looks at a set of observations (the sample) and calculates the Coefficient of Variation. The coefficient of variation (CV)is a standardized measure of dispersion of a probability distribution or frequency distribution. It shows the extent of variability in relation to the mean of the population. It is also referred to as the relative standard deviation (RSD). It can be expressed as a percentage, and represents the ratio of the standard deviation to the absolute value of the mean. This measure is widely used in analytical chemistry to express the precision and repeatability of an assay. Another practical application is in fields such as engineering for quality assurance and ANOVA gauge R&R. In addition, CV is utilized by economists and investors in economic models and in determining the volatility of a security. It is particularly useful when analyzing measures of economic inequality.
Enter your observations as a string of numbers - separated by commas or with a new line for each measurement. The Coefficient of Variation Calculator will handle the necessary calculations.
New - Summary Statistics: We added an additional feature where you can directly enter summarized statistics such as the mean and standard deviation and use those to calculate the Coefficient of Variation without summarizing the sample data.
This metric should only be used if the data is measured on a ratio scale, where the measurement cannot assume a negative value. One common error is when analyzing temperature data - the Kelvin scale is a ratio scale (it starts at zero, the complete lack of energy). In contract, the Fahrenheit and Celsius scales permit both positive and negative values, which can invalid the measure (if the readings cross the scale).
This is also sometimes referred to as a coefficient of variance calculator.
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The coefficient of variation is the standard deviation of the sample divided by the average of the sample. Note that this calculator is working up from the specific observations, so it is solving for the standard deviation and average from the base sample.
The coefficient of variation percentage is calculated the same way - standard deviation of the sample divided by the average of the sample. Just format the results as a percentage.
The CV calculation is the variability of a sample dataset expressed as a percentage of the absolute value of the mean. It is calculated as the ratio of the standard deviation of the sample to the mean of the sample.
The coefficient of variation is a simple and intuitive measure of how much variation exists within a data series. It can be used to compare two series with each other, even if the means of the two series are very different. For example, you could compare weekly stock prices for two similar companies to assess if they have the same level of volatility. While the specific mean would likely very (different price level due to how many shares were issued), this analysis would tell you if the stocks acted similarly.
The textile manufacturing industry uses the coefficient of variation calculation to assess how irregular the yarn is. You divide the standard deviation of mass variation by the mean mass variation for your samples. There are instruments, such as the Uster Evnness Tester, which can measure the CV values of fiber processing at high speed. This is an industrial application of the coefficient of variance calculator.
This is a common use of this function in meteorology. You divide the average annual rainfall by the standard deviation of the rainfall. So if a location has an average rainfall of 24" per year and a standard deviation of 6", the Coefficient of Variation is 6/24 = .25. This is a popular application of the coefficient of variance calculator.