What Does Cv Mean In Statistics. The main purpose of finding coefficient of variance (often abbreviated as cv) is used to study of quality assurance by measuring the dispersion of the population data of a probability or frequency distribution, or by determining the content or quality of the sample data of substances. The coefficient of variation (cv) is a statistical measure of the relative dispersion of data points in a data series around the mean.
The cv expresses the variation as a percentage of the mean, and is calculated as follows: Cv is a fancy term for a simple calculation: The same standard deviation/variance with smaller mean will generate a smaller cv.
S is the standard deviation of a sample.
In statistics the coefficient of variation is a fairly natural parameter if variation follows either the gamma or the lognormal, as may be seen by looking at the form of the coefficient of variation for those distributions. Which has greater variability, weights of elephants or weights of ants. In other words, a set of data is graphed and the cv equation is used to measure the variation in points from each other and the mean. However, if the cv is 0.46 (or 46%), then it is said to be the standard deviation is 46% that of the mean.