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Interpretation about skewness

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Interpretation about skewness

12 months ago
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Can you explain the interpretation of the skewness in the real life? 
 
Thanks!

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12 months ago
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Hello, Titus!
 
Thanks for reaching out.
 
Skewness is a measure of departure of distribution from symmetry (like a normal distribution). The tails on the right means that there are very few with extremely high values. This pulls the mean higher than the median. An example is the distribution of income. Majority has a normal level of  income (or less) and relatively few has extremely high income.
 
A graph below for an example of positively skewed distribution.
 

 
Hope this helps.
Best,
The 365 Team

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