Skewness Formula:
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Skewness is a measure of the asymmetry of the probability distribution of a real-valued random variable about its mean. It indicates whether the data is skewed to the left (negative skew) or to the right (positive skew).
The calculator uses the skewness formula:
Where:
Explanation: This formula provides a simple measure of skewness based on the relationship between mean, median and standard deviation.
Details: Skewness is important in statistics as it helps understand the shape of the data distribution. It's used in various fields including finance, quality control, and social sciences to identify patterns and make informed decisions.
Tips: Enter the mean, median, and standard deviation values. All values must be valid numbers, and standard deviation must not be zero.
Q1: What does positive skewness indicate?
A: Positive skewness indicates that the tail on the right side of the distribution is longer or fatter than the left side.
Q2: What does negative skewness indicate?
A: Negative skewness indicates that the tail on the left side of the distribution is longer or fatter than the right side.
Q3: What is considered a significant skewness value?
A: Generally, a skewness value between -0.5 and 0.5 is considered approximately symmetric, while values beyond this range indicate significant skewness.
Q4: Are there other methods to calculate skewness?
A: Yes, there are other formulas including Pearson's first coefficient of skewness and the moment coefficient of skewness.
Q5: When should I use this skewness calculation?
A: This method is particularly useful when you have the mean, median and standard deviation available and want a quick measure of distribution asymmetry.