What is the total cost of an item priced $4.95 if there is 5% sales tax?
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Answer:
C. The coefficient of variation is a measure of relative dispersion that expresses the standard deviation as a percentage of the mean, for any data on a ratio scale and an interval scale
Step-by-step explanation:
Th Coefficient of Variance is a measure of dispersion that can be calculated using the formula:
Where is the Standard Deviation
and is the sample mean
From the formula written above, it is shown that the Coefficient of Variation expresses the Standard Deviation as a percentage of the mean.
Coefficient of variation can be used to compare positive as well as negative data on the ratio and interval scale, it is not only used for positive data.
The Interquartile Range is not a measure of central tendency, it is a measure of dispersion.