Note on the coefficient of variation properties

Authors

DOI:

https://doi.org/10.14393/BEJOM-v2-n4-2021-58062

Keywords:

Bounds. Corrected coefficient of variation. Dispersion.

Abstract

The extent to which the values within the dataset differ from one another and from the mean value itself is revealed through measures of variability. One common measure of variability is the coefficient of variation, which expresses the standard deviation as a proportion of the mean and does not depend on the unit scales. Exploiting its potential as a unitless measure of variability, the coefficient of variation has been used as risk sensitivity measure, to represent the reliability of trials, and for other purposes. In different frameworks, the coefficient of variation can be used when a single sample is considered, but also when comparing distributions. In general, the assumptions for the use of the coefficient of variation are related to the type of data, nevertheless, some properties of this coefficient lead to limitations on its suitability in certain situations. In this work we present a comparative review of the coefficient of variation properties and those of an alternative coefficient.

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Author Biographies

Carla Santos, CMA-Center of Mathematics and its Applications-FCT-NewUniversity of Lisbon and Polytechnic Institute of Beja, Portugal

Carla Santos is an Adjunct Professor at the Department of Mathematics and Physical Sciences of the Polytechnic Institute of Beja and research member of the Center of Mathematics and Applications, FCT- New University of Lisbon, Portugal. She holds a PhD in Mathematics by University of Beira Interior, a MSc. in Applied Mathematics by University of Évora, Portugal and a BSc. in Mathematics by University of Évora, Portugal. Her main research interests are in Applied Mathematics/Statistics, mainly Statistical Inference in Linear Models. She has published in these fields and in Mathematical Education in various international journals. She is guest reviewer of international journals. 

 

Cristina Dias, CMA-Center of Mathematics and its Applications-FCT-New University of Lisbon and Polytechnic Institute of Portalegre, Portuga

Cristina Dias is Adjunct Professor, in the Department of Technologies, of the Polytechnic Institute of Portalegre and member of the Center for Mathematics and Applications of FCT -Universidade Nova de Lisboa. She holds a degree in Applied Mathematics (University of Évora, Portugal), Master in Applied Mathematics (University of Évora, 2000, Portugal) and PHD in Applied Mathematics, (University of Évora, 2013, Portugal); Attended Graduate Diploma in Data Analysis in Social Sciences (University Institute of Lisbon, 2015, Portugal). His current research work is in the areas of Multivariate Data Analysis, Generalized Linear Models, Mixed Linear Models, Computational Statistics, Linear Inference and Mathematical Education. 

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Published

2021-04-14

How to Cite

SANTOS, C.; DIAS, C. . Note on the coefficient of variation properties. BRAZILIAN ELECTRONIC JOURNAL OF MATHEMATICS, Uberlândia, v. 2, n. 4, p. 101–111, 2021. DOI: 10.14393/BEJOM-v2-n4-2021-58062. Disponível em: https://seer.ufu.br/index.php/BEJOM/article/view/58062. Acesso em: 3 jan. 2025.

Issue

Vol. 2 No. 4 (2021): Brazilian Electronic Journal of Mathematics

Section

Articles - Statistics and Probability

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Copyright (c) 2021 BRAZILIAN ELECTRONIC JOURNAL OF MATHEMATICS

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