Abstract
The implication of the coefficient of centrality for assessing the meaning of the mean.
Highlights
Edited by: Craig Speelman, Edith Cowan University, Australia Reviewed by: Michael Smithson, Australian National University, Australia
The coefficient of variation (CV ) is an important and underused statistic that implies that the standard deviation has different meanings depending on the mean (Fisher, 1925; Yates, 1951; Yadav et al, 2013; Trafimow, 2014) and is computed by dividing the standard deviation by the mean
To gain a feel for how means impact the meanings of standard deviations, imagine that there are two classes and that the standard deviation of the final exam is 5 points in both of them but that the mean is 25 in Class 1 and 75 in Class 2
Summary
Edited by: Craig Speelman, Edith Cowan University, Australia Reviewed by: Michael Smithson, Australian National University, Australia. The coefficient of variation (CV ) is an important and underused statistic that implies that the standard deviation has different meanings depending on the mean (Fisher, 1925; Yates, 1951; Yadav et al, 2013; Trafimow, 2014) and is computed by dividing the standard deviation by the mean It is to show that the coefficient of variation is a two edged sword so that if means modify the meanings of standard deviations, the reverse is so.
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