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1 1 ≠ 2 2
Skew = 0
KurtosisX
1 = 2 Time
1 = 2
Skew < 0
KurtosisXS = 0
1 2 1≠ 2
1 = 2
Skew > 0
KurtosisXS = 0
1≠2 1 2
1 = 2
Skew = 0
Kurtosis > 0
1 = 2
Figure 6. The Fourth Moment
First Moment: Arithmetic Average or Simple Mean (Sample). The Excel equivalent function is AVERAGE.
n
x i
x i 1
Second Moment: Standard Deviation (Sample). The Excel equivalent function is STDEV for a sample standard deviation.
The Excel equivalent function is STDEVP for a population standard deviation.
n
( x i x )2
s i 1
n 1
n( n 1 ) n
( xi x ) 4 3( n 1 )2
kurtosis
( n 1 )( n 2 )( n 3 ) i 1 s
( n 2 )( n 3 )