MHB Understanding Positive Asymmetry in Price Distribution

[evinda]

Hello! (Wave)

Suppose that the prices of a product have platycurtic and positive asymmetry. The minister of commerce decides to define maximum value of product equal to the mean value. The minister probably:

- will decrease the price at more than 25% of the products
- will decrease the price at less than 50% of the products
- no of the options that are given
- will decrease the price at less than 75% of the products
- will decrease the price at more than 50% of the productsI have found the following: A distribution with kurtosis <3 (excess kurtosis <0) is called platykurtic. Compared to a normal distribution, its tails are shorter and thinner, and often its central peak is lower and broader.
Could you explain to me how this definition can be applied to the above example? (Thinking)

 

[I like Serena]

Hello! (Wave)

Suppose that the prices of a product have platycurtic and positive asymmetry. The minister of commerce decides to define maximum value of product equal to the mean value. The minister probably:

- will decrease the price at more than 25% of the products
- will decrease the price at less than 50% of the products
- no of the options that are given
- will decrease the price at less than 75% of the products
- will decrease the price at more than 50% of the productsI have found the following: A distribution with kurtosis <3 (excess kurtosis <0) is called platykurtic. Compared to a normal distribution, its tails are shorter and thinner, and often its central peak is lower and broader.

Could you explain to me how this definition can be applied to the above example?

Hey evinda!

Regardles of platycurtic, the distribution would still be symmetric, which I think does not help us for the answer.
What does it mean that it has 'positive asymmetry'?