The coefficient of variation (CV) is the ratio of the standard deviation to the mean. The higher the coefficient of variation, the greater the level of dispersion around the mean.

In probability theory and statistics, the coefficient of variation (CV), also known as relative standard deviation (RSD), is a standardized measure of dispersion of a probability distribution or frequency distribution. It is often expressed as a percentage, and is defined as the ratio of the standard deviation {\displaystyle \ \sigma } \ \sigma to the mean {\displaystyle \ \mu } \ \mu (or its absolute value, {\displaystyle |\mu |} |\mu |). The CV or RSD is widely used in analytical chemistry to express the precision and repeatability of an assay. It is also commonly used in fields such as engineering or physics when doing quality assurance studies and ANOVA gauge R&R.[citation needed] In addition, CV is utilized by economists and investors in economic models.

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Answer:Answer:In probability theory and statistics, the coefficient of variation (CV), also known as relative standard deviation (RSD), is a standardized measure of dispersion of a probability distribution or frequency distribution. It is often expressed as a percentage, and is defined as the ratio of the standard deviation {\displaystyle \ \sigma } \ \sigma to the mean {\displaystyle \ \mu } \ \mu (or its absolute value, {\displaystyle |\mu |} |\mu |). The CV or RSD is widely used in analytical chemistry to express the precision and repeatability of an assay. It is also commonly used in fields such as engineering or physics when doing quality assurance studies and ANOVA gauge R&R.[citation needed] In addition, CV is utilized by economists and investors in economic models.