Explain the Impact of Skewness on the Measures of Central

question 9

Essay

Explain the impact of skewness on the measures of central tendency.

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Definitions:

Disposable Income

The available financial amount for households to use in saving or spending after accounting for income tax.

Saving

The action of setting aside a portion of one's income or resources for future use or investment.

Disposable Income

The financial resources that households can allocate towards savings and expenditures after income tax deductions.

Saving

The portion of income not spent on current consumption, often put aside for future use or investments.