What are skewness and kurtosis in statistics?
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What are skewness and kurtosis in statistics?
Skewness measures the asymmetry of a distribution, while kurtosis measures the 'tailedness' of the distribution.
Can you explain how to calculate skewness?
Sure! Skewness can be calculated using the formula: (3 * (mean - median)) / standard deviation.
What does a positive skewness indicate?
A positive skewness indicates that the right tail of the distribution is longer or fatter than the left tail.
And what about kurtosis? What does it tell us?
Kurtosis indicates the sharpness of the peak of a distribution. High kurtosis means more data in the tails.
How are skewness and kurtosis used in data analysis?
They help in understanding the shape of the data distribution, which is crucial for choosing the right statistical tests.
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