Positively skewed distribution mean, median > mode

Skewness is a statistical measure that describes the asymmetry of the distribution of values in a dataset.

When a distribution is positively skewed standard deviation overestimates risk

It indicates whether the data points are skewed to the left (negative skew) or the right (positive skew) relative to the mean. Skewness helps understand the underlying distribution of data, which is crucial for decision-making, risk assessment, and predicting future trends.

What is Skewness?

Skewness can be defined as a statistical measure that describes the lack of symmetry or asymmetry in the probability distribution of a dataset.

It quantifies the degree to which the data deviates from a perfectly symmetrical distribution, such as a normal (bell-shaped) distribution. Skewness is a valuable statistical term because it provides insight into the shape and nature of a dataset's distribution. For example, understanding whether a dataset is positively or negatively skewed can be important in various fields, including finance, economics, and data analysis, as it can impact the interpretation of data and the choice

when a distribution is positively skewed on the right it means that

when a distribution is positively skewed quizlet