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.
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).
Need to pass an answer to a friend? It's easy to link and share the results of this calculator. Hit calculate - then simply cut and paste the url after hitting calculate - it will retain the values you enter so you can share them via email or social media.