Coefficient of Variation (CV)
Coefficient of Variation (CV) - is a statistical measure of the dispersion of observations in a data set around the mean. It is calculated as the ratio of the standard deviation to the mean and is usually expressed in percentage. It helps in comparison of variation in two or more data sets with different means and standard deviations respectively. Higher the CV, the more is the spread of the data around its mean.
An application oriented question on the topic along with responses can be seen below. The best answer was provided by Kavitha Sundar on 24th November 2017.