Revision Date: 2005-09-07
| The coefficient of variation is a measure of how much variation exists in relation to the mean. Another way to describe it is a measure of the significance of the sigma in relation to the mean. The larger the coefficient of variation, the more significant the sigma, relative to the mean.
For example, if the standard deviation is 10, what does it mean? If the process average (mean) is 1000, a sigma value of 10 is not very significant. However, if the average is 15, a standard deviation of 10 is VERY significant.
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