In: Statistics and Probability
Respond to the following discussion question for this module.
Be sure to explain in such as way so that someone who knows nothing about statistics would be able to understand your reasoning.
Solution-
RIght skewed means that lower amount values occur with higher frequency in comparison to higher amount values. In other words, smaller values are more in number in comparison to bigger values.
Example- Amount of claims in insurance is right skewed as number of claims of small amount is higher than that of bigger amount.
Left skewed means that lower amount values occur with lower frequency in comparison to higher amount values. In other words, smaller values are less in number in comparison to bigger values.
Example- Marks obtained by students in an easy exam can b thought as an example of negatively skewed distribution where higher amount marks will be of more students.
Symmetric means that lower amount values occur roughly with same frequency as compared to higher amount values. In other words, smaller values are roughly same in number in comparison to bigger values.
Example- Weight of US population can be thought of symmetrically distributed as the frequencies of tall and short people would be roughly same.
Thanks!