Introduction of Variance and Standard Deviation

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The mean deviation and the standard deviation have the same units in which the data are given. Whenever we want to compare the variability of two series with same mean, which are measured in different units, we do not merely calculate the measures of dispersion but we require such measures which are independent of the units. The measure of variability which is independent of units is called coefficient of variation (denoted as C.V.) 
The coefficient of variation is defined as 
C.V. = `sigma/barx xx 100 , bar x` ≠ 0

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