Abstract
Coefficient of variation (CV) is a simple but useful statistical tool to make comparisons about the independent populations in many research areas. In this study, firstly, we proposed the asymptotic distribution for the ratio of the CVs of two separate symmetric or asymmetric populations. Then, we derived the asymptotic confidence interval and test statistic for hypothesis testing about the ratio of the CVs of these populations. Finally, the performance of the introduced approach was studied through simulation study.
Highlights
Based on the literature, to describe a dataset, three main characteristics containing central tendencies, dispersion tendencies and shape tendencies, are used
A central tendency is a central or typical value for a random variable that describes the way in which the random variable is clustered around a central value
Is interesting to inference, where CVY and CVX are the Coefficient of variation (CV) corresponding to Y and X, respectively
Summary
To describe a dataset (random variable), three main characteristics containing central tendencies, dispersion tendencies and shape tendencies, are used. Measures of dispersion like the range, variance and standard deviation tell us about the spread of the values of a random variable It may be called a scale of the distribution of the random variable. The division of the standard deviation to the mean of population, CV = μσ , is called as coefficient of variation (CV) which is an applicable statistic to evaluate the relative variability This free dimension parameter can be widely used as an index of reliability or variability in many applied sciences such as agriculture, biology, engineering, finance, medicine, and many others [1,2,3]. We propose a method to compare the CVs of two separate symmetric or asymmetric populations. The comparison between the parameters of two datasets or models has been considered in several works [34,35,36,37,38,39,40]
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