A smaller coefficient of variation indicates: The mean relative to the standard deviation is smaller Less variability within a set of data values Less consistency within a set of data values More variability within a set of data values
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It is the ratio of the standard deviation to the mean. The formula for the coefficient of variation is: CV = \(\frac{\text{Standard Deviation}}{\text{Mean}}\) A smaller coefficient of variation indicates that the standard deviation is smaller relative to the Show more…
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