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Explain the concept of skewness

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A friend is considering purchasing some antiques for $1,000. They have done some research and found the mean value for these antiques is $1,250 and are convinced this is a good investment opportunity. You have a look at their research and notice that while the mean value is $1,250 the data set is skewed to the right.

Explain the concept of skewness and why this may not be the great investment your friend believes it to be.

Reference no: EM132880096

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