An iqv of .35, which describes the level of racial diversity in a southern u.s. state, can be interpreted as 'the southern state of interest sees 35% of the maximum possible differences'.
The index of qualitative variation (IQV) is a measure of the variability of nominal variables such as race, ethnicity, and gender. This type of variable classifies people into categories that cannot be ranked, as opposed to being able to measure income and education that changes from high to low. The index of qualitative variation can vary from 0.00 to 1.00. If we want to look at the changing racial diversity of a place over period of time, we can use the IQV to see how diversity has evolved.
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