Coefficient of Variation Example (SOA Exam P – Probability – Univariate Random Variables Module)

Описание к видео Coefficient of Variation Example (SOA Exam P – Probability – Univariate Random Variables Module)

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After completing this video you should be able to:

- Explain and calculate variance, standard deviation, and coefficient of variation.

Definition: The Coefficient of Variation (CV) of the random variable 𝑋 is defined to be 𝐶𝑉 = 𝜎_𝑋/𝜇_𝑋

where 𝜎_𝑋 and 𝜇_𝑋 are the standard deviation and mean of 𝑋, respectively.

E.g:
If 𝐶𝑉 =0.5 then the standard deviation of 𝑋 is half the mean of 𝑋.
If 𝐶𝑉 = 2 then the standard deviation of 𝑋 is twice the mean of 𝑋.

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