Taking an example to explain my doubt.
Eg; Say the probability of a share price going up on a day is 0.30. We have to consider 10 such iid trials.
So would it be right to say that –
if we consider “Share price rising” as success for the purposeof our trials, distribution would be +vely Skewed (Since P<0.5) ,
but if we consider “Share price falling” as success for the purpose of our trials, the distribution would be -vely skewed. (Since P>0.5)?
Yes, your example is correct.
When P<0.5 the distribution is positively skewed.
When P>.5 the distribution is negatively skewed.
Now as we know p is the probability of success & q is the probability of failure
so as in your example, probability of share price going up is .3 so it has distribution which is positively skewed as p<.5
Alright. Got it. Thank You.