What is the importance of coefficient of variation(CV)? Why the range of CV is different for the different plant? Why CV is important and what it actually describes?
Advantages
The coefficient of variation is useful because the standard deviation of data must always be understood in the context of the mean of the data. In contrast, the actual value of the CV is independent of the unit in which the measurement has been taken, so it is a dimensionless number. For comparison between data sets with different units or widely different means, one should use the coefficient of variation instead of the standard deviation.
Disadvantages
When the mean value is close to zero, the coefficient of variation will approach infinity and is, therefore, sensitive to small changes in the mean. This is often the case if the values do not originate from a ratio scale.
Unlike the standard deviation, it cannot be used directly to construct confidence intervals for the mean.
CVs are not an ideal index of the certainty of a measurement when the number of replicates varies across samples because CV is invariant to the number of replicates while the certainty of the mean improves with increasing replicates. In this case, standard error in percent is suggested to be superior.[12]
By using the coefficient variance to find the nature of curves. By basing this variance, to find the correlation coefficient.
Advantages
The coefficient of variation is useful because the standard deviation of data must always be understood in the context of the mean of the data. In contrast, the actual value of the CV is independent of the unit in which the measurement has been taken, so it is a dimensionless number. For comparison between data sets with different units or widely different means, one should use the coefficient of variation instead of the standard deviation.
Disadvantages
When the mean value is close to zero, the coefficient of variation will approach infinity and is, therefore, sensitive to small changes in the mean. This is often the case if the values do not originate from a ratio scale.
Unlike the standard deviation, it cannot be used directly to construct confidence intervals for the mean.
CVs are not an ideal index of the certainty of a measurement when the number of replicates varies across samples because CV is invariant to the number of replicates while the certainty of the mean improves with increasing replicates. In this case, standard error in percent is suggested to be superior.[12]
Dear Aqleem,
Please check the following resources.
Best regards
SM Najim
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC130103/pdf/0069.pdf
https://www.princeton.edu/~cap/AEESP_Statchap_Peters.pdf
https://www.utdallas.edu/~herve/abdi-cv2010-pretty.pdf
https://cims.nyu.edu/~kiryl/Elementary%20Statistics/Chapter_4.pdf
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