July 7, 2022

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Variation coefficient.  This is what it is and where it applies

Variation coefficient. This is what it is and where it applies

  • The coefficient of variation is worth using, among others because of its accuracy. It helps to compare large databases accurately. Standard deviation works best if the harvest has the same population
  • To calculate the value of the coefficient of variation, the following formula should be used: coefficient of variance = (standard deviation / mean) * 100
  • This method may also be useful for businessmen and entrepreneurs. Allows you to assess the risks in relation to the planned investment

Variation coefficient It is particularly useful when it becomes necessary to analyze the results of two different and unique tests or reviews that have completely different measures or characteristics. It is used, for example, in studies that differ in terms of recording methods and components.

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Measurement of Distribution Difference – What is it?

Diversity Diversity Scale It is a type of distribution measurement that describes the relationship between individual distributions. They should differ from each other in the dispersion (differentiation) of the attribute values ​​around the central values. Differentiation metrics include:

  • standard deviation,
  • the differences
  • mean absolute deviation,
  • the difference,
  • quarter sign
  • quarter deviation,
  • Variation coefficient.

standard deviation It is one of the most widely used statistical concepts besides the arithmetic mean. It’s the square root of the variance. It tells you how broad the values ​​are (age, exchange rate, economic inflation) of a certain size scattered about the average of that size. In this case, it is assumed that the smaller the values ​​of deviation, the more focused the observations should be on the mean. can distinguish:

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