The variance or standard deviation.
No. A range is one measure of variation. It is easy to find, but it is also a rather crude measure.
The coefficient of variation is the ratio between the standard deviation and the mean.
One disadvantage of using the range as a measure of variation is that it only considers the highest and lowest values in a dataset, ignoring the distribution of the other values in between. This can lead to a misleading representation of variability, especially in datasets with outliers or extreme values that can skew the range. Additionally, the range does not provide any information about how data points cluster around the mean or median, making it less informative than other measures like the interquartile range or standard deviation.
When a data set has an outlier, the best measure of center to use is the median, as it is less affected by extreme values compared to the mean. For measure of variation (spread), the interquartile range (IQR) is preferable, since it focuses on the middle 50% of the data and is also resistant to outliers. Together, these measures provide a more accurate representation of the data's central tendency and variability.
The Absolute Measure of dispersion is basically the measure of variation from the mean such as standard deviation. On the other hand the relative measure of dispersion is basically the position of a certain variable with reference to or as compared with the other variables. Such as the percentiles or the z-score.
When using the mean: the variance or standard deviation. When using the median: the range or inter-quartile range.
Central tendency is measured by using the mean, median and mode of a set of numbers. Variation is measured by using the range, variance and standard deviation of a set of numbers.
Are you talking of this in means of Statistics? If you are, then the variation from the mean is measured in standard deviation.
No. A range is one measure of variation. It is easy to find, but it is also a rather crude measure.
Yes.
mean
One the main advantage of using the coefficient of variation over the standard deviation to measure volatility is the fact that CV is normalized and can be used to directly compare different asset's volatility. The standard deviation must be used in the context of the mean of the data.
If you mean force (not forse) then you measure it using newtons.
Standard deviation is a measure of variation from the mean of a data set. 1 standard deviation from the mean (which is usually + and - from mean) contains 68% of the data.
Not sure what cable exactly you mean, but the meter is quite appropriate to measure cables in general.
The coefficient of variation is the ratio between the standard deviation and the mean.
Coeff of Variation = Mean/SD