Jarque-Bera is a test statistic for testing whether the series is normally distributed.

The test statistic measures the difference of the skewness and kurtosis of the series with those from the normal distribution. H0 : The deta are normally distributed. H1 : The data are not distributed normally. The statistic is computed as:

where is the skewness, and is the kurtosis.

Under the null hypothesis of a normal distribution, the Jarque-Bera statistic is distributed as with 2 degrees of freedom. The reported Probability is the probability that a Jarque-Bera statistic exceeds (in absolute value) the observed value under the null hypothesisa small probability value leads to the rejection of the null hypothesis of a normal distribution. For the JB Statistics = 6.38 and Pobability = 0.0411, we reject the hypothesis of normal distribution at the 5% level but not at the 1% significance level.

Small probability lead to rejection of null hypothesis of normal distribution.