Variance | Coefficient of VARIATION (CV), Interpreting CV | Measures of Dispersion
Ch 9 - (MEAN) Measures of Central Tendency: Arithmetic Mean
https://youtube.com/playlist?list=PL0BlcnHQsq5JHKTZ15Bv1c3tVku3BPv5W&feature=shared
Ch 11 - (DISPERSION) Measures of Dispersion
https://youtube.com/playlist?list=PL0BlcnHQsq5JJe3_XeaU9scxKuR2CRDiI&feature=shared
🚩Timestamps:-
00:15 Session Agenda
00:52 Variance
02:42 COEFFICIENT OF VARIATION
07:14 Coefficient of variation and variance are two different concepts
07:49 Interpreting CV (Coefficient of variation)
11:35 Concluding Remarks
Learning Outcomes:-
Through this module, you will gain understanding
on:-
1. Variance
2. COEFFICIENT OF VARIATION
3. Coefficient of variation and variance are two
different concepts.
4. Interpreting CV (Coefficient of variation)
Variance
- another
measure of dispersion
- term
first used by R A Fisher in year 1918
- Variance
is square of Standard Deviation
COEFFICIENT OF VARIATION
·
Coefficient of
variation (CV) is 100 times the coefficient of standard deviation of a
statistical series.
·
It was first used
by the famous Statistician Karl Pearson. That is the reason why it is called
Karl Pearson's Coefficient of Variation.
·
In the words of
Karl Pearson, "Coefficient of Variation is the percentage variation in the
mean, the standard deviation being considered as the total variation in the
mean."
·
In order to
calculate coefficient of variation, standard deviation of the series is divided
by mean of the series and multiplied by 100.
Ch 9 - (MEAN) Measures of Central Tendency: Arithmetic
Mean
https://youtube.com/playlist?list=PL0BlcnHQsq5JHKTZ15Bv1c3tVku3BPv5W&feature=shared
Ch 11 - (DISPERSION) Measures of Dispersion
https://youtube.com/playlist?list=PL0BlcnHQsq5JJe3_XeaU9scxKuR2CRDiI&feature=shared
Coefficient of variation and variance are two
different concepts.
Interpreting
CV
(Coefficient of variation)
Coefficient of variation
is used to compare the variability, homogeneity, stability and uniformity of
two different statistical series.
· Higher value of coefficient of variation suggests greater degree of variability and lesser degree of stability.
·
On the other
hand, a lower value of coefficient of variation suggests lower degree of
variability and higher degree of stability, uniformity, homogeneity and
consistency.
VIDEO DESCRIPTION (max 5,000 characters)
Variance | Coefficient of VARIATION (CV), Interpreting CV | Measures of Dispersion | 11th Commerce | by @statomics11comm
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Ch 11 - (DISPERSION) Measures of Dispersion
https://www.youtube.com/playlist?list=PL0BlcnHQsq5JJe3_XeaU9scxKuR2CRDiI
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