In what situations is the coefficient of variation a better measure of dispersion than the standard deviation?
- When data sets have different units
- When data sets have the same units
- When the data set is normally distributed
- When the mean of the data set is zero
The coefficient of variation (CV) is a standardized measure of dispersion that is unitless. It's particularly useful when comparing the dispersion of two or more datasets that have different units or significantly different means. Standard deviation, on the other hand, has the same units as the data, which may not be helpful for comparisons across different datasets.
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