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COEFFICIENT OF VARIATION

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Definition:
The standard deviation of a random variable divided by the mean.

Context:
Its dimensionless form makes it convenient for summarization.

The United States Bureau of Census alternatively refers to the coefficient of variation as the ratio of the standard error to the value being estimated, usually expressed in terms of a percentage. Also known as the relative standard deviation. (United States Bureau of Census, Glossary of Selected Abbreviations and Acronyms - refer http://www.census.gov/dmd/www/glossary.html)>.

Source Publication:
The International Statistical Institute, “The Oxford Dictionary of Statistical Terms”, edited by Yadolah Dodge, Oxford University Press, 2003.

Statistical Theme: Methodological information (metadata)

Created on Wednesday, July 24, 2002

Last updated on Wednesday, April 10, 2013