When ratios are normally distributed, approximately what percentage lies within one Coefficient of Variation (COV) percent of the mean?

The concept of the Coefficient of Variation (COV) is essential when analyzing the distribution of ratios, particularly in terms of understanding variability relative to the mean. When ratios are normally distributed, the properties of the normal distribution come into play, particularly the empirical rule, which states that for a normally distributed dataset, approximately 68% of the data falls within one standard deviation of the mean.

The Coefficient of Variation, which is defined as the ratio of the standard deviation to the mean, allows for a comparison of variability across different datasets. When considering COV in the context of a normal distribution, being within one COV percent essentially reflects being within one standard deviation from the mean. Thus, since the distribution is normal, approximately 68% of data points will indeed lie within one standard deviation of the mean.

This fundamental principle makes B the correct choice, highlighting the relationship between the COV and the properties of the normal distribution. The other percentages provided in the options do not accurately reflect the empirical rule associated with standard deviations in normally distributed data.