Question

In: Economics

Which of the following measure would you use to describe the “spread” or degree of dispersion...

Which of the following measure would you use to describe the “spread” or degree of dispersion of the distribution of a random variable?

A. skewness


B. standard deviation


C. mean


D. kurtosis

Solutions

Expert Solution

A). SKEWNESS

Skewness relates to the asymmetry to the frequency distribution. There are two types of asymmetry

If there is a positive tail in the distribution then it is termed as positive skewness

If there is a negative tail in the distribution then it is termed as negative skewness

THIS IS INCORRECT

B). STANDARD DEVIATION

Standard deviation is used to describe the variation or dispersion in a given set of data.

Low standard deviation indicates that the values are close to the mean or average of the set while high standard deviation shows the values are spread out from the mean.

THIS IS CORRECT

C). MEAN

It is the average of the given data. It is calculated by adding all the numbers and then dividing it with the total number. It is the central value of the given set of data.

THIS IS INCORRECT

D). KURTOSIS

Kurtosis relates to the tailedness of the frequency distribution. It tells where the data has heavy-tail or light-tail or normal distribution.

Types of kurtosis are:

  • Mesokurtic
  • Lepokurtic
  • platykurtic

THIS IS INCORRECT

Rahul Sunny answered 1 year ago
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