(a) Skewness Definition:
Skewness is a measure of the asymmetry or deviation from symmetry in a probability distribution. It indicates the degree and direction of skew (departure from horizontal symmetry) in a dataset.
(b) Chapter Learnings:
- Positive Skewness: If the data distribution is skewed to the right, the tail on the right side is longer or fatter than the left side.
- Negative Skewness: If the data distribution is skewed to the left, the tail on the left side is longer or fatter than the right side.
- Impact on Mean and Median: Skewness helps understand how the mean and median are influenced by the shape of the distribution, providing insights into the central tendency of the data.