Dispersion (Relative)

Relative measures of dispersion are powerful statistical tools used to compare the variability of two or more datasets, especially when their means or units of measurement are different. Unlike absolute measures (like standard deviation), relative measures are unitless, allowing for a standardized comparison of spread. This calculator computes four key coefficients of relative dispersion, making it highly useful in fields like finance for comparing the volatility of different assets, or in biology for comparing the variability of different measurements. To use the calculator, input your numerical data into the text area, separating the values with either commas or spaces. After clicking 'Calculate', the tool will provide the following coefficients: 1. **Coefficient of Range:** This is calculated by dividing the range of the data by the sum of the maximum and minimum values. It provides a simple way to standardize the range. 2. **Coefficient of Quartile Deviation:** This is found by dividing the quartile deviation by the sum of the first and third quartiles. It gives a relative measure of the spread of the middle half of the data. 3. **Coefficient of Mean Deviation:** This is calculated by dividing the mean deviation by the mean of the dataset. It expresses the mean deviation as a fraction of the mean. 4. **Coefficient of Variation (CV):** This is the most widely used measure of relative dispersion. It is calculated by dividing the standard deviation by the mean and is often expressed as a percentage. A lower CV indicates less variability relative to the mean, making it an excellent tool for comparing the consistency or 'risk' of different datasets.