Measures of Central Tendency for an Asymmetric Distribution, and Confidence Intervals

Measures of Central Tendency For symmetric normal-like distributions there is a clear winner for measuring central tendency: the sample mean. The mean has the highest precision/efficiency and is also representative of a typical observation from the population distribution. The mean is not robust, e.g., is too affected by extreme values, when the distribution is heavy-tailed or asymmetric. For…