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The Coefficient of Variation Measures Variability in a Data Set

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The coefficient of variation measures variability in a data set relative to the size of the arithmetic mean.


Definitions:

Purchasing Power

An individual's or entity's ability to buy goods and services, affected by inflation and personal financial situation.

Hourly Rate

The sum of money received or given out for every hour worked.

Toxic Waste Discharge

The release of harmful pollutants into the environment, usually from industrial operations.

Stringent Restrictions

Strict or severe limitations or rules that must be followed.

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