
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Transcribed Image Text:The standard deviation alone does not measure relative variation. For example, a standard deviation of $1 would be considered large if it is describing the variability from store to store in the price of an ice cube tray. On the other hand, a standard
deviation of $1 would be considered small if it is describing store-to-store variability in the price of a particular brand of freezer.
A quantity designed to give a relative measure of variability is the coefficient of variation. Denoted by CV, the coefficient of variation expresses the standard deviation as a percentage of the mean. It is defined by the following formula.
CV = 100(s/x)
Consider two samples. Sample 1 gives the actual weight (in ounces) of the contents of cans of pet food labeled as having a net weight of 8 ounces. Sample 2 gives the actual weight (in pounds) of the contents of bags of dry pet food labeled as having a
net weight of 50 pounds. The weights for the two samples are as follows.
8.9
7.7
7.3
8.9
7.3
Sample 1
8.9
8.4
7.3
7.3
7.5
51.5
50.6
53.0
50.4
50.8
Sample 2
47.0
50.4
50.3
48.7
48.2
In USE SALT
(a) For each of the given samples, calculate the mean and the standard deviation. (Round your standard deviations to four decimal places.)
Sample 1
Mean
7.95
Standard Deviation
0.5406
Sample 2
Mean
50.0667X
Standard Deviation
|1.8188
(b) Calculate the coefficient of variation for each sample. (Round your answers to two decimal places.)
CV
9.25
CV2
3.63
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