Question
Download Solution PDFWhich is not relative measures of skewness?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is mean - mode
Key Points
- Relative measures of skewness aim to quantify the degree of asymmetry in a given dataset with respect to some reference point.
- The first three options,
, and , are all measures of skewness based on quantiles. They quantify the asymmetry of a dataset by comparing the difference between its median and its extremes
Additional Information
- "MEAN- MODE" is simply the difference between the mean and mode of a dataset and does not provide any information about the degree of asymmetry.
- The measure "Mean - Mode" is not considered as a relative measure of skewness because it is not expressed in terms of standard deviations, quartiles or other standard measurements.
- Skewness is the measure of asymmetry of a probability distribution and relative measures of skewness are expressed in terms of the standard units of measurement.
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