Statistics - How to calculate the coefficient of variation

In this video I'll quickly show you how to find the coefficient of variation. There are two formulas for samples and populations, but these are basically the same and involve dividing the standard deviation by the mean and lastly converting to a percent. The coefficient of variation is useful for comparing the variation of two groups that have different means, or are measured on different scales.
▬▬ Chapters ▬▬▬▬▬▬▬▬▬▬▬
0:00 Start
0:07 The formulas for calculating the coefficient of variation
0:53 Example, Comparing variation of store wait times
3:02 Interpreting the coefficient of variation
3:32 Wrap up information and ending
▬▬ Related Videos ▬▬▬▬▬▬▬▬▬▬▬
This video is related to many other topics. Check them out:
How to calculate the standard deviation: • Statistics - How to ca...
How to calculate the standard deviation using a Ti83 or Ti84: • Statistics - Calculati...
Find the mean: • Statistics - Find the ...
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[@harshitjoshi1122]

I searched randomly for this formula and needed it urgently for an MCQ as I am a CA student. Helped me when it was needed. Thanks man

[@shenanigansforsure]

My math notes were too complex. This really simplified it for me, thank you!

[@jamesschower327]

Great Video, I got it with your demonstration.

[@justincase8901]

Thank you!! helped a lot

[@GraxeB4356]

Thank you💕

[@gaylelim6672]

your handwriting is gorgeous and thank you for mentioning up front which formula is for which, because some videos don't, and i get confused. thanks for sharing!

[@tandocashrybensalig.3021]

Thank you, sir. Helped me a lot.

[@uchihasasuke7354]

Please correct me if i'm wrong. Thus, in general if i am not comparing cv's of two groups to see which one is more diverse, My CV of a group tells me on average how much percent an entry of my group differs from any other entry within that same group. Am i right ?

[@vrixwembly103]

Our teacher gave us 3 sets of population. Am I supposed to add all the SD and mean from each population and come up with one CV ? Or each set shall have one CV? Thanks.

[@johnnydripdrip6402]

Wow...That was really helpful. Thank you

[@muskansania1957]

Thank a lot very help full videos

[@REEMA-mo3hf]

Thank you soooo much ♥️♥️♥️♥️

[@arokiarajan1230]

Thank you for video.. Helpful...

[@VocalVoltage]

I love you brother hanks for helping e out! love from Pakisan!!!!!!!!!!!!!!!!!

[@azizalkh3878]

You helped me thank you

[@user-iv6ft3jv2o]

Thanks a lot man

[@SupposeMath]

Are you using white board sheets?

[@samdillinger101]

With respect to this formula whats considered high and low. So if its under 1 the data is close to the mean and higher than one its spread out from the mean right?

[@cinnabunyt]

u teach better than my teacher 😭 now i can finally answer my pt

[@earthworm2224]

A true goat, thank you.

[@zushyTubechannel]

Thank you this saved me before my CAT

[@Graanvlok]

At what point are we supposed to understand this at an intuitive level, or can I get by with just learning formulas and applying them?

[@MySecretMathTutor]

It depends. Many people simply memorize the formula and know when to use it, other people like to get a sense of what the formula is doing intuitively. Neither approach is good or bad, just different ways to approach it. :^D

[@fatema665]

I understand this in the first seconds tnx from morroco

[@digoveimrober]

Is it usefull for a natural numbers scale? (1, 2, 3, 4, 5). Because I used it and the coefficient was high because of the space between the numbers. How can I calculate the homogeneity of a sample?

[@SharanyaPuttaraju]

Sir how can we calculate cv value without doing tiration... Pls answer me sir.. It's very important for me

[@dhirajsingh2824]

Great explanation man ..could u please tell me from which country u are belong with

[@aravindsunil4900]

Can we divide it by median instead of mean ?

[@atulthakur.007]

can CV be worked out for large number of dataset, say n=32...........?

[@MySecretMathTutor]

Yes.

[@alimamybangura3620]

Thank you sir

[@beaangelnicolemendoza196]

Hi! How can we know if we should use the sample or population? (even if they have the same formula) thanks!

[@samuelvictor3619]

WhatsApp at [phone]

[@smiles1113]

THANK YOU

[@HarshadOSCM-]

Sir which calculator you using ? name , model no, & price & where it'll available ?

[@MySecretMathTutor]

I have a whole wall of calculators! I tend to grab a Casio fx-9750 GII most of the time. This cost about $50 (US dollars) and is widely available. Hope that helps. :^D

[@manishrathod7544]

How u did calculate s1 and s2

[@maxima4116]

If i multiply 0.0704 with 100% (with the percent sign on my sci cal) the answer is the same but if i multiply it with 100, the answer is 7.04. im confused ....... so im just only going to multiply it with 100 only? not with the percent?

[@Mycopher]

if you multiply by 100% you are telling it to multiply it by itself. just move the decimal point two spaces and put a % on it.

[@BTS.Forever007]

Sir can you please solve this question ""What do you say about the relative dispersion of 5,5,5,5? ""

[@marisasitanggang6052]

How do you interpret if you get 120% CV?

[@MySecretMathTutor]

By itself this just gives you the ration of the standard deviation to the mean. If you have another data set you can calculate its coefficient of variation as well. (Even though it might have a different mean) This will give you a sense of which one varies more.

[@marisasitanggang6052]

Do you have any book to suggest that says baselines of a good CV? I need to say if my data is precise or not and I know that different field require different CV to say a precision. but I have trouble find literature for that.

[@hassankarim3909]

I don't know if i did it right but my answer for S1 was 0.636, Mean was the same and final answer i got for store 1 was 8.8%

[@fenrir_-_]

Bro tought me something that took my school 1 hour in the amount of time needed to make cup noodles

[@fchen4573]

Can you tell me please which is the correct answer below: In a statistical administration survey, a highly negative coefficient of correlation indicates that the factors involved are which one below: a. Unilateral. Or b. Inverse or c. Nonexistent

[@statisticsbyrekhayadav3567]

B is correct

[@the-dank-gatsby3413]

That was so easy to understand on pearson the way they explain it is way to complicated

[@vanshikasingh3478]

me watching this a minute before my exam :0 I passed. thanks!

[@ebhojayejuliet9728]

Your standard deviation values are wrong

[@sukuratopeyemi5323]

Thank God someone mentioned it.

[@samrasafdarsafdar5434]

Can you please help me i have a problem

[@oluski2499]

i got a math error when finding the standard deviation

[@GabrielEmeh]

The S1 value isn't correct,the value should be 0.06588

[@husnilkhotima4373]

You can choose for one of the above gifts

[@freshfirewordministries]

I needed the part you skipped. :(

[@varunakhatoo3862]

nooo i forgot to ×100

[@jiar300]

sometimes i search for super complicated mathematical tutorials just to confuse myself. i hate math

[@isocrate27]

You speak too fast.

[@MySecretMathTutor]

Sometimes I get excited talking about math. :^D