Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rephrase the following statement: A variable that is likely skewed is the distribution of income in many countries. This is typically positively skewed, meaning that

Rephrase the following statement: A variable that is likely skewed is the distribution of income in many countries. This is typically positively skewed, meaning that the majority of people earn a relatively low income, while a small number of people earn a very high income, leading to a longer tail on the right side of the distribution. The rationale for this is that in many societies, wealth tends to accumulate in the hands of a few

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty

1st Edition

978-0132109994, 0132109999

More Books

Students also viewed these Economics questions