Using coefficient of variation to measure MLB playersâ?? worth

[Jimbo]

An interesting find in one of my trade magazines:

 

The coefficient of variation (CV), sometimes called the relative standard deviation, is often used to assess the quality of an assay,¹ the diversity in organizations² or as a benchmark for ranking.³ It is measured as a fraction or percentage of how much variation exists in a variable in relation to the mean, so it represents a highly useful-and easy to interpret-concept in data analysis.

 

http://www.asq.org/quality-progress/2009/07/statistics-roundtable/player-rankings.html

[rluzinski]

Thanks for the link. I'll have to take a look when I get the chance.