how do i determine if the amount of credit card debt of familiesin the US is left-skewed, right-skewed, or symmetric? I have read and re-read my book and still can not figure it out. thanks

Make a frequency distribution.

A symmetric distribution is the same on both sides. Skewed-left means it is pulled out to the left (negative side), so most of the scores are higher with fewer lower scores. Point your index finger of your right hand toward the left; your fist will represent the majority of scores, while the finger will represent the skewed scores. The opposite is true of the positively-skewed distribution.

I don't have any type of statistics for figures to go by. I am not sure if I can answer the question of whether credit card debt in american families is left skewed, right skewed or symmetrical just by the question alone, or do i need to first research what the debt is? thanks

Determining the skewness of a dataset, such as credit card debt for families in the US, can be done by following the steps outlined below:

Step 1: Obtain the dataset
Gather the dataset that contains information on credit card debt for families in the US. This could be in the form of a spreadsheet, a database, or any other structured format.

Step 2: Display the data
Create a frequency distribution or a histogram to visualize the distribution of the credit card debt data. This will help you understand the shape of the dataset.

Step 3: Calculate the measures of central tendency
Calculate the mean (average) and median (middle value) of the credit card debt data. These measures will provide information about the central tendency of the distribution.

Step 4: Compare the measures of central tendency
Compare the mean and the median. If the mean is greater than the median, this could indicate a right-skewed distribution. If the mean is less than the median, this could suggest a left-skewed distribution. If the mean is roughly equal to the median, the distribution might be symmetric.

Step 5: Analyze the tails of the distribution
Examine the tails of the distribution. If the right tail (values above the median) is longer and more spread out than the left tail (values below the median), this could suggest a right-skewed distribution. Conversely, if the left tail is longer and more spread out than the right tail, this could indicate a left-skewed distribution. If the tails are symmetric, this suggests a symmetric distribution.

Step 6: Consider other factors
Keep in mind that skewness can also be influenced by outliers or extreme values in the dataset. Outliers can pull the distribution in one direction, potentially affecting the skewness results. Therefore, it's important to identify and handle outliers before making a final determination.

By following these steps and analyzing the data, you should be able to determine whether the amount of credit card debt for families in the US is left-skewed, right-skewed, or symmetric.

To determine whether the amount of credit card debt of families in the US is left-skewed, right-skewed, or symmetric, you can follow these steps:

1. Obtain a dataset: To analyze the distribution of credit card debt, you will need a dataset that includes information on credit card debt for a representative sample of US families. This data can be obtained from various sources such as surveys, research studies, or government reports.

2. Visualize the data: Once you have the dataset, you can create a histogram or a box plot to visualize the distribution of credit card debt. These visualizations provide a visual representation of the data and help in understanding its shape.

3. Analyze the shape: Look at the shape of the histogram or box plot. Pay attention to the location of the peak, the symmetry, and the presence of any outliers.

- Left-skewed distribution: If the data is concentrated towards the right side of the graph and the tail extends towards the left, it indicates a left-skewed distribution. This means that there are more families with lower credit card debt and a few with higher debt.

- Right-skewed distribution: If the data is concentrated towards the left side of the graph and the tail extends towards the right, it indicates a right-skewed distribution. This means that there are more families with higher credit card debt and a few with lower debt.

- Symmetric distribution: If the data is evenly distributed around the center with no apparent skewness towards either side, it indicates a symmetric distribution. This means that the number of families with higher and lower credit card debt is roughly equal.

4. Consider measures of central tendency: Additionally, you can also calculate measures of central tendency such as mean, median, and mode. If the mean is greater than the median and the mode, it suggests a right-skewed distribution. On the other hand, if the mean is less than the median and mode, it suggests a left-skewed distribution. If the mean, median, and mode are similar, it indicates a symmetric distribution.

Remember, the specific results will depend on the dataset you are analyzing. It's important to have an appropriate sample that is representative of the population you are studying.