Often in finance, stock prices are considered to follow a lognormal distribution while stock returns are considered to follow a normal distribution -prices are positive while returns can be negative(with other statistical arguments to support these assumptions as explained in this discussion).
Skewdness and Kurtosis are often applied to describe returns.
Is it appropriate to use these 3rd and 4th moments to describe other prices too, particularly where the notion of returns is not applicable e,g ticket prices? with the general goal to indicate the extent to which a given price's distribution conforms to a normal distribution?
- ind: skew (0.386333) kurt(-1.459865)
- com: skew (0.492587) kurt(-1.234064)
- res skew(1.234279) kurt(0.791562)
- price skew(1.652154) kurt(5.611179))
Following these plots, the last plot (price) seems to have a shape close to a normal distribution but the corresponding statistics look the least normal compared to the other variables. Hence the question if trying to explain these higher moments is even applicable for these variables.