I have been having frequent (every 30 seconds to a couple minutes at most) dropping of wifi on my Macbook Air with Yosemite since I installed it several months ago. My wife has Mavericks on her laptop and doesn't ever drop wifi. We're both connecting to the same network. I tried every possible fix and workaround I could find on the 118 pages of this thread, including flashing my router yesterday and updating the firmware.
Then I used this method on page 102:
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souko.vueDec 1, 2014 1:42 AM
Re: OSX Yosemite Wifi issuesin response to tomstephens89
Here's another possible solution/workaround:
1. Option + click your wifi and click on Open Wireless Diagnostic
2. Press CMD + 4 to bring up Scan
3. Press Scan Now and it should provide you with the best channels for each 2.4/5Ghz band
4. Go to your router and change your channel
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Apparently, my router was on Channel 6 along with 4 others in the neighborhood. I logged into the router via http://192.168.0.1 and changed the channel to 11, which was suggested as best channel in the left-hand side of the window from the wireless diagnostic scan tool.
I have no idea why the Mavericks laptop is perfectly fine with the router on channel 6 (as well as her iPhone with older iOS software), and my laptop with Yosemite and phone with iOS8 drops connection continuously, but since I've made the change to an unused wireless channel, I have not dropped the wifi signal once. I'm sure this won't help everyone as this problem seems to be multifaceted, but I'm pointing out souko.vue's post in hope that it might help some more of us.