Coefficient of Variation
The coefficient of variation (CV) is a statistical measure of the relative dispersion of data points in a data series around the mean. It represents the ratio of the standard deviation to the mean, and it is often expressed as a percentage.
The CV is useful because it allows comparison of the degree of variation between different data sets, even if the means are drastically different from one another. It's particularly valuable in industrial engineering for quality control, process capability analysis, and comparing variability across different measurement scales.
Calculation Results
Coefficient of Variation
Relative variability measure
Standard Deviation
Absolute measure of dispersion
Mean
Average of all values
Sample Size
Number of data points
Interpretation
Descriptive Statistics
| Statistic | Value |
|---|---|
| Minimum | |
| Maximum | |
| Range | |
| Sum |
Understanding Coefficient of Variation
The coefficient of variation is particularly useful in these industrial engineering contexts:
| CV Range | Interpretation | Industrial Application |
|---|---|---|
| CV < 10% | Low variability | Process is well-controlled with minimal variation |
| 10% ≤ CV < 20% | Moderate variability | Acceptable variation in many manufacturing processes |
| 20% ≤ CV < 30% | High variability | Process may need improvement or investigation |
| CV ≥ 30% | Very high variability | Process is unstable and requires immediate attention |
Note: These interpretations are general guidelines. Specific acceptable CV ranges may vary by industry and application.