Resolved: Calculating Skewness of the data
Hi, I've theoretically understood what skewness is and what it signifies. In the Skewness exercise, I've managed to find out the skewness of the dataset using excel's built-in function =SKEW. However, I'm not sure how we can mathematically calculate the skew's numerical value. Any help on this would be thoroughly appreciated.
thanks for reaching out! The formula for calculating skewness is mentioned at the beginning of the lesson, around the 0:12 seconds mark. So for each data point x_j you'd need to calculate the shown expression. In reality mostly we use software to perform this calculation as it is very involved.
Hope this helps!