TO DETERMINE SKEWNESS, MEAN AND DEVIATION WITH A NEW APPROACH ON CONTINUOUS DATA
Mehmet Güven Günver, Mustafa Sukru Senocak, Suphi Vehid · PONTE International Scientific Researchs Journal · 2018
In light of the deeply embedded controversy surrounding the skewness and its potential exaggerated effects on standard deviation and other statistical measures, this study attempts to suggest an alternative approach, the �Golden Ratio in Statistics�. The GRiS method acknowledges the effects of skewness by accounting for each data elements� contribution to the center point based on its specific location in the data stack. The �Golden Ratio� is chosen as the typical tool for this system. This study recommends a more realistic expression of the standard deviation, the GRiS deviations, which overcomes the effect of extreme values in skewed data stacks. A formula for the coefficient of skewness is also put forward to quantitatively measure the symmetry of a data stack around its median. The practical benefits of the GRiS approach are demonstrated through a data analysis of the characteristics of wine. Finally, the implications behind this approach are discussed.