So the coefficient of variance or CV came up quite a bit at work recently and so I decided to talk about that. Why? Because I can! Because it’s my blog! And because it’s another short and sweet topic that we can cover before you go on with your holiday shopping ** cough, cough ** Order of The Dimensions ** cough, cough ** perfect gift for any holiday lover ** cough, cough **. And what it is is a measure of the variation relative to the mean. So ideally, we for the CV to be lower but a low standard deviation and a low mean could give a similar CV as a high standard deviation and a high mean so really we want a low standard deviation and a high mean. Got all that? Good, I hope. But just to be sure I’m doing another Randy-Anton example. So say Randy’s looking at three dimensions, one where he has a high probability of catching Anton among a lot of places but those places are so far apart, one where he has a low probability of catching Anton among a lot of places but those places are close together, and one where he has a high probability of catching Anton among a lot of places and those places are close together. So where would he look first? There you go — the third one as that would be his “low CV” as you will. But does he find such a dimension? Well, maybe you and the scifi lover on your holiday list then … yeah 😉
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