Q. How we can compare two models on the basis of standard deviation. One is giving standard deviation =0.05 and other is 0.11
Hi Soumyadeep,
We have to estimate our coefficient of variation (CV=standard deviation / mean). As a rule of thumb, a CV >= 1 indicates a relatively high variation, while a CV < 1 can be considered low. This means that distributions with a coefficient of variation higher than 1 are considered to be high variance whereas those with a CV lower than 1 are considered to be low-variance.
Remember, standard deviations aren’t “good” or “bad”. They are indicators of how spread out your data is. A “good” Standard Deviation depends if you expect your distribution to be centered or spread out around the mean. This really depends on your data.
Please check out this article for a better understanding of Model Performance Comparison
I hope it helps
Regards