What is the formula for calculating the coefficient of variation?

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The coefficient of variation (CV) is a statistical measure of the relative variability of a dataset. It is calculated by taking the standard deviation and dividing it by the mean. This ratio expresses variability in relation to the size of the mean, allowing for the comparison of variability across different datasets or measurements, even when they are on different scales.

Using the standard deviation in the numerator highlights how much individual data points deviate, on average, from the mean value, while the mean acts as a reference point for context. By multiplying the result by 100, the coefficient of variation can also be expressed as a percentage, which is often useful in interpreting the data.

The other options do not correctly calculate the coefficient of variation. Mean divided by standard deviation, multiplication of mean and standard deviation, and adding mean to standard deviation do not reflect the proportion of variability relative to the mean and, thus, do not represent the concept of the coefficient of variation. Therefore, dividing the standard deviation by the mean is the correct approach to obtaining this important statistical measure.

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