Skewness is a common phenomenon in real-life data and can be observed in

various contexts. Here are some examples of skewness in real life:

Income Distribution: Income distribution in many countries is often positively

skewed, which means that a small proportion of people earn very high incomes,
while the majority earn lower incomes.

Exam Scores: Exam scores are often negatively skewed, which means that most
students score higher marks, while a few students score very low marks.
Stock Returns: The distribution of stock returns is often negatively skewed, which
means that most of the returns are positive or close to zero, while a few returns are
very negative.

Insurance Claims: Insurance claims data is often positively skewed, as most

claims are small in value, while a few claims are very large.

Product Sales: The distribution of sales for a product can be positively skewed, as
a few customers may make a large purchase, while most customers make smaller
purchases.

In real life, it is important to be aware of skewness in data as it can impact our

understanding of the underlying distribution and the conclusions, we draw from it.
For example, if we assume that a data set is normally distributed when it is actually
skewed, we may make incorrect assumptions about the average or typical values in
the data set. Understanding the degree and direction of skewness can help us
choose appropriate statistical methods and interpret our results correctly.

In statistics, skewness is a measure of the asymmetry of a distribution. A positively

skewed distribution means that the tail of the distribution extends more to the right
side of the mean than to the left side, and the majority of the values are clustered
toward the left side of the distribution.

A real-life example of positively skewed data is the distribution of housing prices

in a city. In most cities, the vast majority of homes are priced at a relatively low to
moderate level, while a small number of homes are priced very high. This creates a
distribution that is skewed to the right, or positively skewed. The few homes with
very high prices pull the mean price up to a higher level than most homes cost,
causing the distribution to be skewed towards higher prices.
This pattern can also be observed in other distributions, such as the distribution of
company profits, where a few high-performing companies may skew the
distribution to the right.

In statistics, skewness is a measure of the asymmetry of a distribution. A

negatively skewed distribution means that the tail of the distribution extends more
to the left side of the mean than to the right side, and the majority of the values are
clustered toward the right side of the distribution.
A real-life example of negatively skewed data is income distribution in a
population. In many countries, there is a small proportion of the population with
extremely high income, while the majority of people earn relatively low to
moderate income. This creates a distribution that is skewed to the left, or
negatively skewed. The few individuals with very high income pull the mean
income up to a higher level than the majority of people earn, causing the
distribution to be skewed towards lower incomes. This pattern can also be
observed in other distributions, such as the distribution of exam scores, where a
small group of high-performing students may skew the distribution to the left.

1.Countries with Positively Skewed Income Distributions (Higher Income

Inequality):

United States
Brazil
South Africa
India
Mexico
Mean>Median>Mode

2.Countries with Negatively Skewed Income Distributions (Lower Income

Inequality):

Scandinavian countries (e.g., Sweden, Norway, Denmark)

Finland
Iceland
Japan
New Zealand
Mean<Median<Mode

3.Countries with Symmetrical (Approximately Normal) Income Distributions

(Moderate Income Inequality):
Canada
Germany
Australia
United Kingdom
France

Mean=Median=Mode

It's important to note that these categorizations are based on general observations
and trends, and individual countries can have diverse income distributions within
their populations. Additionally, income inequality can vary within countries, with
different regions or demographic groups experiencing varying levels of income
disparity. To obtain the most up-to-date and accurate information on income
distributions in specific countries, it's advisable to refer to government statistics,
research publications, and economic reports.