Statistics table

Figure 1. Statistics table for amount of last sale
Table of statistical summaries for Amount of Last Sale variable

The statistics table tells you several interesting things about the distribution of sale, starting with the five-number summary. The center of the distribution can be approximated by the median (or second quartile) 20.25, and half of the data values fall between 12.0 and 52.875, the first and third quartiles. Also, the most extreme values are 6.0 and 776.5, the minimum and maximum.

The mean is quite different from the median, suggesting that the distribution is asymmetric. This suspicion is confirmed by the large positive skewness, which shows that sale has a long right tail. That is, the distribution is asymmetric, with some distant values in a positive direction from the center of the distribution. Most variables with a finite lower limit (for example, 0) but no fixed upper limit tend to be positively skewed.

The large positive skewness, in addition to skewing the mean to the right of the median, inflates the standard deviation to a point where it is no longer useful as a measure of the spread of data values.

The large positive kurtosis tells you that the distribution of sale is more peaked and has heavier tails than the normal distribution.

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