The Coefficient of Variation Calculator is a useful tool for calculating the coefficient of variation for different data sets that have different means. With it, you can compare data variability with different scales easily and quickly.
What is the coefficient of variation?
The coefficient of variation is a statistical measure that allows you to compare the variability of different data sets that have different means. It is defined as the standard deviation of a sample divided by the sample mean, expressed as a percentage.
The coefficient of variation is useful in situations where we want to compare the dispersion of data with different scales.
For example, imagine we are comparing the salaries of two groups of people. Group A has an average salary of R$ 2,000.00 and a standard deviation of R$ 500.00, while group B has an average salary of R$ 4,000.00 and a standard deviation of R$ 1,000.00.
Although the standard deviation of group B is greater in absolute values, the coefficient of variation shows that the relative variation in wages is greater in group A (25%) than in group B (25%).
Variation Coefficient Calculator
To use the calculator, simply enter your sample values separated by a comma into the input field and click the “Calculate” button. The calculator will show the result of the coefficient of variation in percentage.
For example, imagine we have the following values: 10, 20, 30, 40, 50. To calculate the coefficient of variation of these values using the calculator, just enter them in the input field separated by commas:
How to calculate the coefficient of variation?
To calculate the coefficient of variation, we need two values: the sample mean and the sample standard deviation. The formula for the coefficient of variation is:
Coefficient of Variation = (Standard Deviation / Mean) * 100
The result is expressed as a percentage.
If you are not familiar with mean and standard deviation, here is a brief explanation:
- The mean is the sum of all values divided by the number of values.
- The standard deviation is a measure of how spread out the values are from the mean. The larger the standard deviation, the more scattered the values are. To calculate the standard deviation, we subtract each value from the mean, square the result, add all the values obtained and divide by the number of values minus one. Then we take the square root of the result.