what is cv in statistics

The coefficient of variation (CV) is a statistical measure of the dispersion of data points in a data series around the mean. It is the ratio of the standard deviation to the mean, and it is a useful statistic for comparing the degree of variation from one data series to another, even if the means are drastically different from one another. The CV is expressed as a percentage and is generally used to compare distributions of values whose scales of measurement are not comparable. The CV is a standardized, unitless measure that allows for meaningful comparisons in scenarios where absolute measures cannot be used. The lower the value of the coefficient of variation, the more precise the estimate. The formula for the coefficient of variation is (Standard Deviation / Mean) * 100.