The CV is useful if you are measuring things which can
only take positive values and tend to be 'positively'
skewed - i.e. lumped towards the zero. In that case,
the standard deviation itself is not a measure of
spread but something rather more complex. The CV is a
simple measure of skewness under these conditions.
CV<1/3 might not be skewed
CV around 1, moderately skewed
CV much above 1, highly skewed
The CV is directly related to the standard deviation
of the logarithms in a lognormal situation.
Does this help?
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